Global Markets Today, September 3, 2026: Asia Rises But Oil Prices May Keep Indian Equities Cautious At Start

Mumbai, September 3: Indian equity benchmarks are likely to open cautiously on Thursday, tracking gains across Asian markets and a partial recovery on Wall Street, though elevated crude prices and fresh US-Iran tensions could cap the upside.

Asian Markets Gain 

Asian stocks advanced in early trade, with MSCI’s broadest index of Asia-Pacific shares outside Japan rising 0.7%, while Japan’s Nikkei gained 0.2% as a retreat in global bond yields offered some relief to risk assets. 

The yen strengthened 0.07% to 158.59 per dollar after jumping 0.9% in the previous session. Japan’s 30-year government bond yield eased 10 basis points to 4.065%, ahead of a closely watched government debt auction. 

Hong Kong’s Hang Seng traded 0.2% higher, although investors remained cautious about the impact of elevated energy prices on inflation and interest rates. 

Wall Street Rebounds Partially After Three-Day Fall 

U.S. equities recovered partially overnight after three consecutive sessions of losses. The Dow Jones Industrial Average gained 0.56%, while the S&P 500 rose 0.46% and the Nasdaq Composite advanced 0.45%. 

Nvidia climbing 3.2%, while Micron and Qualcomm gained 2.4% and 2%, respectively. Dell surged 15.8% after raising its annual revenue and profit forecasts. 

Oil Remains Key Risk 

Crude oil prices remained elevated amid renewed uncertainty over the U.S.-Iran conflict. Brent crude was around $95.55 a barrel, while U.S. West Texas Intermediate crude stood at $91.14. 

The latest escalation in the conflict has heightened concerns about disruptions to energy supplies and the possibility that a prolonged geopolitical crisis could keep oil prices higher for longer. 

For India, which imports the bulk of its crude oil requirements, sustained oil prices near current levels could weigh on inflation, the rupee and corporate margins, particularly across oil-sensitive sectors. 

Fed Rate-Cut Bets, Jobs Data In Focus 

Markets are also turning their attention to Friday’s U.S. payrolls report for clues on the Federal Reserve’s next policy move. Weaker-than-expected private-sector employment data has increased expectations of a rate cut this month, with traders pricing in roughly a two-thirds probability of a 25-basis-point reduction. 

The U.S. nonfarm payrolls report due Friday will therefore be closely watched. A weaker jobs print could strengthen expectations of monetary easing and support emerging-market assets, while a stronger-than-expected reading could push Treasury yields and the dollar higher. 

What It Means For Indian Markets 

The combination of gains in Asian equities, a partial rebound on Wall Street and softer global bond yields points to a positive-to-flat start for Indian markets on Thursday. 

However, the elevated crude oil prices and renewed U.S.-Iran tensions are likely to keep investors cautious and could cap gains. Oil-sensitive and rate-sensitive stocks could remain under pressure. 

Investors will also track movements in the rupee, crude prices and foreign institutional flows for further direction after the opening bell. 

Source

• Exchanges