Dow Advances as Tech Retreats

U.S. markets showed divergence as the Dow gained on cyclical strength, while technology stocks dragged the S&P 500 and Nasdaq lower amid weakness in semiconductor names. Elevated Treasury yields and lingering inflation concerns kept sentiment cautious, even as crude prices eased on renewed Iran negotiation hopes.

The dollar softened modestly, but the rupee slipped to another record low, pressured by oil prices and capital outflows. Domestic fuel prices rose again, adding inflation concerns.

Nifty held key support near 23,262, with early signs of bottoming, though 23,800 remains a crucial resistance level for momentum recovery.

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