Markets Navigate AI Optimism and Middle East Tensions, Global AI Rally Lifts Nifty IT

Global markets remain supported by strong AI-driven momentum, with U.S. indices extending record rally streaks led by semiconductor and infrastructure plays. However, elevated geopolitical tensions in the Middle East and rising crude prices continue to weigh on sentiment.

Asian markets opened resilient, though risks persist. Domestically, Nifty snapped its losing streak, aided by a sharp rally in IT stocks reflecting global tech strength. The rupee weakened amid higher oil prices and sustained outflows.

Technically, Nifty holds key support near 23,229 – 23,100, while a decisive move above 23,800 is essential to confirm a trend reversal.