Indian Markets Closed For Ram Navami

Indian markets remain closed today on account of Ram Navami.

Benchmark indexes Sensex and Nifty ended down around 0.6 percent each on Tuesday to extend losses for a third straight session while the rupee plunged to a record closing low of 83.54 against the dollar.

Asian markets were flat to slightly lower this morning after two-year U.S. Treasury yields briefly climbed to 5 percent, reaching fresh 2024 highs on hawkish comments from Fed Chair Jerome Powell.

The dollar slipped after seeing its best five-day gain since October 2022. Gold edged up slightly while oil prices fell around half a percent on worries about global demand due to weak economic momentum in China.

U.S. stocks fluctuated before ending narrowly mixed overnight while yields climbed, as a measure of U.S. manufacturing output increased in March and Fed Chair Jerome Powell cautioned that persistently elevated inflation will likely delay any rate cuts until later this year.

The S&P 500 slipped 0.2 percent to notch its third straight day of losses and the tech-heavy Nasdaq Composite eased 0.1 percent while the Dow rose 0.2 percent to snap a six-session losing streak.

European stocks closed lower on Tuesday to snap a two-day winning streak amid heightened tensions in the Middle East, signs of feeble demand in China and lingering uncertainty around rate cuts.

The pan European STOXX 600 dropped 1.5 percent. The German DAX and France's CAC 40 both fell around 1.4 percent while the U.K.'s FTSE 100 shed 1.8 percent.

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