Steady

• The Sensex and Nifty remained steady at midday, supported by positive sentiment surrounding ongoing diplomatic talks between Iran and Oman. • Market stability was further bolstered by the Reserve Bank of India's (RBI) decision to pause interest rates, despite mixed sectoral trends. • Global performance was varied, with Japan's Nikkei 225 and Hong Kong's Hang Seng dropping 1.70% and 1.87% respectively, while Pakistan's KSE 100 rose 1.66%.

• The STOXX Europe 600 Index reached a record closing high for the second consecutive day on May 5, though overall gains were tempered by shifting Middle East peace hopes. • Novo Nordisk shares plummeted 4.3% after sales of the oral version of its obesity drug, Wegovy, failed to meet market expectations despite an increase in 2026 full-year guidance. • In the pharmaceutical sector, reports from Reuters indicated that AstraZeneca is not currently engaged in concrete merger talks with any U.S. companies.

• Wall Street indices climbed in early trading on Wednesday, with the Dow Jones Industrial Average gaining 487 points (0.9%), the S&P 500 rising 0.5%, and the Nasdaq Composite increasing by 0.3%. • This surge extends a record-setting momentum from Tuesday, when both the S&P 500 and the Dow closed at all-time highs. • The rally is driven by robust financial performance from companies as the latest earnings season nears its conclusion, providing a strong start to August.

• Asian markets saw cautious gains on August 4, 2026, following a global rally on Wall Street, with MSCI's broadest index of Asia-Pacific shares (excluding Japan) rising 0.1%. • South Korean shares led the growth with a rally of up to 2.1%, while Japan's Nikkei 225 declined by 0.3% and S&P 500 e-mini futures rose 0.1%. • Oil prices remained steady near multi-week lows, reflecting a stalemate in the ongoing conflict between the United States and Iran.

• Two Federal Reserve officials dissented against the decision to hold interest rates steady, arguing that a rate hike was necessary to combat elevated inflation. • The internal conflict over monetary policy intensified during Kevin Warsh’s second meeting as chairman of the Federal Reserve. • These dissenting officials believe that higher rates would have placed the central bank in a stronger position to stabilize prices and manage economic volatility.

• The USD/JPY exchange rate rose 0.53% to ¥160.39 following the Federal Reserve's decision to keep US interest rates steady. • Japanese authorities intervened in the foreign exchange market by selling US dollars and buying yen to combat the currency's sharp depreciation. • This volatility highlights the ongoing tension between US monetary policy and Japan's efforts to stabilize its currency.

• The Dow and other stock indices rose on July 30, 2026, driven by strong earnings reports from Microsoft (MSFT) and Meta Platforms (META). • The Federal Reserve opted to hold interest rates steady, providing a stable environment for investors despite renewed hostilities in the Middle East. • Market momentum was further bolstered by positive stock futures as investors weighed the Fed's decision against corporate performance.