AI Momentum Pushes Global Stocks to New Heights

Global equities closed May on a strong note, led by AI-driven momentum as U.S. indices hit record highs, supported by robust tech earnings and easing bond yields. Cooling crude prices on temporary U.S. & Iran optimism offered relief, though renewed geopolitical tensions continue to keep oil volatile.

Despite global strength, Indian markets ended the week slightly lower amid crude uncertainty and MSCI-driven outflows. The rupee strengthened sharply, aided by easing oil and intervention. Technically, Nifty faces resistance near 24,000, with immediate support at 23,484 and deeper support at 23,260.