Semiconductors Surge, Yields Retreat

U.S. markets hit record highs as semiconductor stocks surged on strong AI-driven demand, led by Micron and Nvidia, while easing Treasury yields supported sentiment. Oil prices remained volatile amid mixed signals on U.S. and Iran tensions.

Asian markets followed with gains, buoyed by chip rally momentum and improving economic data from China. Despite global strength, the rupee weakened sharply due to crude price pressures and risk aversion.

Nifty faces near-term consolidation, with support at 23,800–23,850 and 23,600 below, while 24,100 remains a key resistance. Markets may open flat to mildly negative amid expiry-related volatility.