Indian Markets Closed For Muharram

(RTTNews) - Indian stock markets remain closed today for Muharram. Benchmark indexes Sensex and Nifty gave up some early gains to end marginally higher on Thursday, with weakness in metal, pharma, and oil & gas stocks limiting the potential upside.

The rupee rose by 10 paise to close at 94.45 against the dollar as crude oil prices slipped to their lowest levels since before the outbreak of the Iran conflict, easing pressure on the domestic economy.

Foreign institutional investors net bought shares worth Rs 384 crore on Thursday while domestic institutional investors net bought shares to the extent of Rs. 5,748 crore, according to provisional exchange data.

Asian markets were moving lower this morning, with key benchmark indexes in Hong Kong, Japan and South Korea falling 2-4 percent, dragged down by losses in big tech shares.

The Japanese yen hovered near a 40-year low against the dollar as the U.S. May PCE data reinforced rate hike expectations. Gold was subdued after rebounding above $4,000 in the previous session.

Brent crude prices fell more than 1 percent below $75 a barrel, giving back some of the previous session's gains.

A United Nations agency paused its Gulf evacuation plan after an Evergreen container ship was attacked near Oman. Iranian authorities maintained that vessel safety outside designated routes cannot be guaranteed.

U.S. stocks ended mixed overnight even as strong earnings and guidance from Micron and Qualcomm helped ease concerns over lofty AI valuations and spending.

Oil prices were in focus again after a cargo vessel was reportedly attacked off Oman, raising fresh security concerns and threatening maritime trade.

In economic news, the PCE price index, the Federal Reserve's preferred inflation gauge, rose 0.4 percent sequentially in May, slightly below expectations, and 4.1 percent year-over year.

The core PCE index rose 0.3 percent month-over-month and 3.4 percent annually, matching forecasts.

Consumer spending accelerated in May and personal income surpassed market expectations, reinforcing expectations that the Federal Reserve may raise interest rates later this year.

Durable goods orders, a key indicator of manufacturing activity, declined less than anticipated in the most recent reporting period, while claims for unemployment benefits fell more than expected last week, suggesting that the labor market remains robust.

Q1 GDP growth was unexpectedly revised up to an annualized rate of 2.1 percent in the first quarter of 2026 from 1.6 percent in the second estimate and 0.5 percent growth recorded in the fourth quarter.

The tech-heavy Nasdaq Composite dropped half a percent, extending losses for a fourth consecutive session after Apple and Microsoft raised the prices of some of their core products, citing higher component costs. The S&P 500 finished marginally lower while the Dow edged up by 0.1 percent.

European stocks closed higher on Thursday as chip stocks and other companies with exposure to AI infrastructure rebounded from recent string of losses.

The pan European Stoxx 600 climbed 0.8 percent to reach a record high. The German DAX rallied 1 percent, France's CAC 40 surged 0.6 percent and the U.K.'s FTSE 100 added 0.7 percent.