Share Market Live Today: The GIFT Nifty indicated a negative open for the benchmark Nifty 50 as traders continued to assess the evolving situation in West Asia. The futures were quoted at 24,303, down 90.60 points or 0.37 per cent.
Markets in the Asia-Pacific region were trading higher in early trade on Wednesday as oil prices declined significantly from Monday’s peak of $120 per barrel. South Korea’s Kospi and Japan’s Nikkei 225 were trading 3.26 per cent and 2.05 per cent higher, respectively.
Overnight, most US indices closed lower as investors weighed the possibility of an end to the US-Iran war amid new military threats. They also exercised caution ahead of the release of CPI data.
The S&P 500 and the Dow Jones Industrial Average ended 0.21 per cent and 0.07 per cent down, respectively.
Brent crude futures declined in Asia session as the International Energy Agency (IEA) proposed the largest ever oil release to mitigate the supply disruption due to the US-Iran conflict. Moreover, US President Donald Trump also pledged protection to tankers passing through the Strait of Hormuz, which further eased concern.
Brent crude’s May future contract was trading 3.64 per cent down at $87.83 per barrel.
Gold and silver futures were trading slightly lower on Wednesday.