Noida, May 28 (APAC Media): Indian equity markets NSE and BSE remained closed on Thursday on account of Bakri Eid, while most Asian markets ended lower amid growing concerns over rising crude oil prices and geopolitical tensions in the Middle East.
Trading on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) was suspended for the holiday.
However, investors continued to monitor developments in global markets, particularly the movement in crude oil prices, which has emerged as a key concern for Asian economies.
Asian equities came under pressure after crude prices extended gains in international markets following renewed tensions in West Asia and fears of possible supply disruptions.
Brent crude traded higher as investors reacted cautiously to geopolitical uncertainty and its potential impact on energy supplies.
Key benchmark indices in Japan, Hong Kong, South Korea and China traded in negative territory during the session.
Market analysts said rising oil prices could fuel inflationary pressures, affect consumer demand and complicate monetary policy decisions for central banks across the region.
For India, higher crude oil prices remain a major concern due to the country’s dependence on imported energy.
Analysts warned that sustained increases in crude prices could widen the current account deficit, put pressure on the rupee and raise input costs for several sectors, including aviation, logistics, paints and automobiles.
“Any sharp rise in crude oil prices is generally viewed negatively for emerging markets like India, as it impacts inflation and fiscal balances,” a market expert said.
Meanwhile, trading activity in commodities continued despite the equity market holiday. The Multi Commodity Exchange (MCX) operated during the evening session, with traders closely tracking movements in crude oil and precious metals.
Investors are now expected to focus on upcoming global economic data, central bank commentary and geopolitical developments for further direction when Indian markets reopen after the holiday.
Global sentiment is likely to remain cautious in the near term as volatility in energy markets continues to influence investor confidence.
Disclaimer: Views expressed are those of experts and do not reflect APAC Media. This is for informational purposes only, not financial advice. We are not responsible for investment decisions. Please consult a qualified financial advisor before investing.
Also Read:
