Global Markets Today, August 28, 2026: Asia Rises Cautiously Ahead Of Fed Commentary, Oil Eases; Indian Shares Seen Opening Higher

Mumbai, August 28: Indian equity benchmarks are likely to open higher on Friday, taking cues from cautious gains in Asian markets and a strong overnight rally on Wall Street after Nvidia’s upbeat outlook revived appetite for artificial intelligence-related stocks. 

The global setup could offer some relief to domestic equities after a volatile week, although elevated crude prices and uncertainty around the U.S. interest-rate outlook may limit gains. 

Asian Markets Cautious 

Asian stocks broadly traded higher, with technology shares leading gains after Nvidia’s forecast pointed to continued strength in AI-related spending. But gains remained cautious ahead of the Federal Reserve’s Jackson Hole Symposium where chair Kevin Warsh is set to speak today. 

Japan’s Nikkei rose around 0.8%, while Taiwan’s benchmark gained 1.15%. South Korea’s KOSPI traded 1.08% lower and Hong Kong’s Hang Seng advanced 0.26%, keeping gains across the region uneven. 

The MSCI Asia-Pacific index outside Japan edged 0.32% higher as investors assessed whether the latest Nvidia-led rally can sustain the broader technology trade. 

Nvidia Sparks Wall Street Rally 

U.S. equities ended sharply higher on Thursday, led by technology stocks after Nvidia delivered a strong earnings report and offered an upbeat growth outlook. 

The S&P 500 gained 0.7%, while the Nasdaq jumped 1.6% and the Dow Jones Industrial Average rose 0.2%. Nvidia shares surged 8.7% after the chipmaker projected roughly 70% revenue growth for its fiscal year ending January 2028. 

The technology sector was the standout performer in the S&P 500, gaining more than 3%. 

Oil Prices Ease, But Remain Elevated 

Brent prices eased 0.3% to $89.4 per barrel on Friday as hopes of diplomatic progress around the Strait of Hormuz reduced some of the immediate supply-disruption premium. 

Brent crude was headed for a weekly decline of around 5%, although prices remained elevated amid continuing geopolitical risks. 

For India, a sustained decline in crude prices would be positive given the country’s heavy dependence on imported oil. Lower energy costs could ease pressure on inflation and the trade deficit while improving margins for fuel-intensive sectors. 

Airlines, paints, chemicals and consumer companies could benefit from softer crude, while upstream oil producers may face some pressure if the decline in prices persists. 

However, crude remains vulnerable to renewed geopolitical developments. Asian oil imports have stayed below pre-conflict levels, highlighting uncertainty around supplies through the Strait of Hormuz. 

Fed Signals In Focus 

Investors will also track Federal Reserve Chair Kevin Warsh’s comments at the Jackson Hole symposium for clues on the U.S. interest-rate path. 

U.S. Treasury yields remained relatively steady as markets awaited signals on the Fed’s assessment of inflation and the scope for future rate cuts. 

For Indian equities, a combination of stronger global technology stocks, cautious gains across several Asian markets and softer crude prices points to a higher start on Friday. 

However, investors could remain cautious ahead of the Fed commentary, while elevated geopolitical risks and volatility in oil prices could keep gains in check. The focus is likely to remain on IT stocks, oil-sensitive sectors and heavyweight index constituents as markets assess whether the global risk-on mood can extend into the domestic session. 

Source

• Exchanges