Global Markets Today, August 21, 2026: Asian Stocks Mixed, Wall Street Slumps, Oil Near $94; Indian Markets May See Lower Start

Mumbai, August 21: Indian equity benchmarks are likely to open with a negative bias on Friday as elevated crude oil prices, rising US Treasury yields and weak global equities weigh on sentiment. 

The domestic market will enter Friday’s session after snapping a seven-session losing streak for the Nifty and a four-session decline for the Sensex. Investors continue to monitor developments in the Middle East, oil prices and global bond markets. 

Asian Markets 

Asian equities were mixed in early trade on Friday but remained on course for weekly losses as renewed selling in global bond markets kept investors cautious. Japan’s Nikkei slipped 0.3% while South Korea’s Kospi climbed 0.9% and MSCI’s broadest index of Asia-Pacific shares outside Japan gained 1.1%. 

The pressure on Asian markets comes as US Treasury yields resumed their climb after a brief respite following the US government’s intervention in the bond market. The 30-year Treasury yield rose back to 5.25%, while the 10-year yield touched 4.71%. Higher US yields can weigh on emerging-market equities by making dollar assets more attractive and raising the discount rate applied to corporate earnings. 

Wall Street 

US equities ended sharply lower, with all three major benchmarks falling as rising Treasury yields hurt risk appetite and higher oil prices revived inflation concerns. 

The Dow Jones Industrial Average dropped 1.32% while the S&P 500 declined 0.87%. The Nasdaq Composite fell 1%. 

Investor sentiment was also hurt by Walmart’s weak quarterly comparable-sales performance. Shares of the retail giant plunged 9.2%, with higher gasoline prices cited as one factor weighing on consumer spending. Consumer staples and discretionary stocks were among the worst-performing sectors. 

Despite the selloff, US stock futures were slightly higher on Friday, with S&P 500 futures up 0.12% and Nasdaq futures gaining 0.3%, offering some support to Asian markets. 

Oil Prices 

Crude remains the biggest concern for Indian equities. Brent crude climbed to a one-month high of $94.71 before paring gains, and was last down 0.02% at $93.76 a barrel, but remained up more than 5% for the week. US crude eased 0.17% to $86.68. 

The latest rise followed a diplomatic deadlock in the Gulf and renewed concerns over supply disruptions. The prospect of tougher US sanctions on Iran has also reduced hopes of a deal that would fully reopen the Strait of Hormuz, keeping the energy market on edge. 

For India, sustained crude prices above $90 remain a negative macro trigger because of the country’s dependence on imported oil. Higher energy costs could add to inflationary pressures, weigh on corporate margins and put pressure on the rupee. 

Indian Market Outlook 

Global cues suggest a lower opening for Indian equities. Investors are likely to remain sensitive to movements in crude oil and bond yields. 

With oil near $94, US yields elevated and global equities under pressure, Friday’s session could see a lower open, with volatility likely to remain high. 

Source

•  Exchanges