Indian equity benchmarks, the Sensex and Nifty 50, ended Wednesday’s session on a strong note, led by gains in IT and metal stocks.
Investors will now turn their attention to the US Federal Reserve’s policy decision, due later in the day.
The NSE Nifty 50 gained 1.1% to close near 24,250, while the BSE Sensex advanced over 800 points, or 1.1%, to settle above 77,600.
Meanwhile, Asian markets ended on a mixed note. Hong Kong’s Hang Seng surged 1.96%, while Singapore’s Straits Times Index gained 1.73%.
Australia’s ASX 200 rose 1.01%, New Zealand’s NZX 50 advanced 0.83%, and China’s Shanghai Composite and Shenzhen Component added 0.4% and 1.1%, respectively.
On the downside, Taiwan’s weighted index slumped 3.76%, South Korea’s Kospi tumbled 5.98%, Japan’s Nikkei 225 declined 1.49%, and Thailand’s SET Index slipped 1.21%.
Markets remained on edge after reports that US forces launched fresh strikes overnight against a military facility in Iran that officials believed posed a threat to American personnel and commercial shipping in the Strait of Hormuz.
MS NOW reported citing an US official as saying that American forces targeted an Iranian military facility overnight that was believed to threaten US troops and merchant vessels operating near the Strait of Hormuz.
The renewed escalation overshadowed the positive start seen in some regional markets as investors reassessed geopolitical risks alongside the outlook for inflation, energy prices and global monetary policy.
U.S. equity futures pointed to a cautious start. Futures linked to the Dow Jones Industrial Average gained 49 points, or about 0.1%, while S&P 500 futures and Nasdaq-100 futures both edged up by less than 0.1%.
Investors are expected to keep a close watch on developments in the Middle East, signals from the Federal Reserve and movements in oil prices, with geopolitical risks continuing to drive trading sentiment across global markets.
