Market Summary – Ceasefire Risks and US–China Summit in Focus

U.S. equities closed at new all‑time highs, with the S&P 500 at 7,412 and Nasdaq at 26,274, supported by strength in technology and semiconductors despite rising geopolitical anxiety. The collapse in U.S.–Iran ceasefire talks pushed Brent crude back to $105, while the 10‑year Treasury yield climbed to 4.41% ahead of the April CPI print, expected at 3.7% YoY. Currency markets remained range-bound, with the euro stuck below $1.18.

Markets now shift attention to the high‑stakes Trump–Xi summit, featuring an expansive agenda across trade, AI, nuclear policy, and Iran. A large U.S. corporate delegation signals potential movement on market access and supply‑chain normalization.

In India, the rupee weakened sharply to a record low due to surging crude and geopolitical stress. Nifty dropped 360 points to 23,815 and is likely to breach 23,800 at the open, with next support at 23,550–23,500 and resistance at 24,000–24,125. Global cues point to a weak start for domestic markets today.

Source: https://www.hdfcsec.com/hsl.docs//HSIE%20Results%20Daily%20-%2012%20May%2026%20-%20HSIE-202605120653132114304.pdf?t=1252026104046405Source: