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Asia markets eye modest gains as global cues support sentiment; Nifty 50 downside risk remains amid volatility

by May 9, 2025
by May 9, 2025

Asian stock markets edged higher on Thursday, buoyed by supportive global cues and steady US interest rates. Still, Indian equities may face a cautious start as domestic volatility and geopolitical tensions weigh on sentiment.

While Wall Street’s strong rebound and a positive tone from the US-UK trade deal offer some relief, India’s Nifty 50 continues to show signs of weakness. If key support levels are breached, downside risks loom.

The Nifty 50 ended lower by 0.6% on May 8, reversing earlier gains as markets reacted to escalating tensions between India and Pakistan.

The drop was accompanied by above-average trading volumes and a spike in the India VIX, signaling rising investor anxiety.

According to technical analysts, the index has breached the intraday support of 24,200.

A decisive close below this level could trigger a further decline toward the 24,000–23,850 zone.

On the upside, the 24,400–24,450 band remains a crucial resistance area to monitor.

Nifty outlook for May 9: Weak bias, elevated volatility

  • Gift Nifty trades 0.22% lower, pointing to a muted open for Indian markets.
  • Volatility remains a concern with the India VIX climbing, suggesting choppy trade ahead.
  • Key support zone: 24,000–23,850
  • Resistance area: 24,400–24,450

Despite domestic concerns, global sentiment remains relatively supportive.

On Wall Street, stocks surged after former US President Donald Trump announced a new trade framework with the United Kingdom — the first significant deal following the rollout of steep tariffs earlier this year.

The Dow Jones rose 532 points, the S&P 500 gained 1.3%, and the Nasdaq Composite added 1.8%, reflecting strong investor enthusiasm.

Asia-Pacific markets trade mostly higher

  • Japan’s Nikkei 225 rose 0.41% to close at 36,928.63.
  • South Korea’s Kospi added 0.22%, while the Kosdaq gained 0.94%.
  • Australia’s ASX 200 edged up 0.16% to 8,191.7.
  • Hong Kong’s Hang Seng Index climbed 0.37%, and China’s CSI 300 rose 0.56% to 3,852.90.
  • Topix Index in Japan ended flat.

The US Federal Reserve held interest rates steady, as widely expected, maintaining its benchmark borrowing rate in the 4.25%-4.5% range.

Fed Chair Jerome Powell acknowledged that continued high tariffs could increase inflation and dampen economic growth in the long run.

Key takeaways for traders and investors:

  • Global markets remain resilient, offering short-term support to Asia equities.
  • Indian markets face downside risk unless Nifty sustains above key levels.
  • Volatility could persist due to geopolitical risks and high domestic VIX.
  • Crypto and commodities could see further movement following the Fed’s stance and US-UK trade deal announcements.

The post Asia markets eye modest gains as global cues support sentiment; Nifty 50 downside risk remains amid volatility appeared first on Invezz

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