Global cues are turning increasingly challenging for Indian markets.
The US 10Y yield is approaching 4.8% despite the Treasury doubling its bond-buyback programme to $4bn. Crude has also moved above $90 as the US-Iran conflict escalates. Higher yields and higher crude are clearly not a great combination for equities, while also creating headwinds for precious metals.
The one positive amid all these global concerns is the Indian rupee, which has started cooling off after the recent weakness.
Interestingly, the domestic picture remains quite encouraging. Q1FY27 GDP growth came in at 7.8%, August auto sales were strong, GST collections grew 14.8% YoY to ₹1.99 lakh crore, and broader market earnings growth in Q1FY27 was among the strongest seen in the last 8 quarters.
The festive season has also begun, which should be supportive for consumption and the broader economy.
So while the global setup is clearly a concern, domestic fundamentals are providing some cushion.
The key question now: can this domestic resilience help Nifty stay unaffected by the global headwinds and defend the crucial 24,000 level?
What’s your view?
Will Nifty defend 24,000?
🟢 Yes
🔴 No