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Indian equity benchmarks erased gains, hlating a four-day gaining streak. The NSE Nifty 50 fell 34.70 points, or 0.14%, to 24,395.65, while the Sensex slipped 21.40 points, or 0.03%, to 78,263.67.
Meanwhile, oil markets remained in focus after a vessel was reportedly struck while transiting the Strait of Hormuz, underlining that security risks persist even as shipping through the strategic waterway gradually recovers.
Brent crude traded above $72 a barrel after a modest decline in the previous session, while West Texas Intermediate hovered near $69. According to UK Maritime Trade Operations, a tanker sailing near Limah, Oman, was hit by a projectile that sparked a fire on board. No injuries were reported.
Elsewhere, Asian markets opened lower on Tuesday as investors assessed renewed risks to oil shipments through the Strait of Hormuz, while taking cues from another record finish for the Dow Jones Industrial Average overnight. South Korea’s Kospi led regional declines, falling 3.23%. Japan’s Nikkei 225 slipped 0.07%, while Australia’s ASX 200 eased 0.25%.
The cautious start came despite gains in U.S. equities, where the Dow Jones Industrial Average closed at another record high and the S&P 500 and Nasdaq Composite also advanced in the first trading session after the Independence Day holiday. The Dow rose 0.29%, the S&P 500 gained 0.72% and the Nasdaq added 1.12%, supported by continued buying in large-cap stocks.
U.S. equity futures were little changed in early Asian trade. Futures linked to the Dow Jones Industrial Average edged up 34 points, S&P 500 futures were broadly flat and Nasdaq-100 futures traded marginally lower as investors awaited fresh catalysts.
