Indian Markets Closed For Bakri Id

(RTTNews) - Indian stock markets remain closed today on account of Bakri Id. Benchmark indexes Sensex and Nifty ended a choppy session slightly lower on Wednesday as renewed delays in U.S.-Iran negotiations kept investors cautious.

The rupee settled higher by 2 paise at 95.68 against the greenback following intermittent dollar sales from state-run banks.

Foreign institutional investors net sold shares worth Rs 1,043 crore on Wednesday, while domestic institutional investors net bought shares to the extent of Rs 3,821 crore, according to provisional exchange data.

Asian markets slipped from record highs this morning as investors reacted to mixed messaging over a possible U.S.-Iran peace deal.

As fragile talks with Iran continue, the U.S. military shot down four Iranian drones and struck a control center in the southern port city of Bandar Abbas to prevent a fifth drone launch.

U.S. President Donald Trump Indicated that negotiations with Iran were still facing major sticking points, He also issued a warning to Oman over any attempt to control the Strait of Hormuz.

The dollar strengthened and Treasuries dropped ahead of the release of the April personal consumption expenditures index - the Fed's preferred inflation gauge - later in the day.

Brent crude futures rose over 2 percent, after having fallen more than 5 percent in the previous session to reach their lowest level in a month.

U.S. stocks inched up slightly overnight despite mixed signals about prospects for a deal to end the war in Iran and revive energy flows through the Strait of Hormuz. U.S. Secretary of State Marco Rubio said there has been some progress in negotiations with Iran toward a deal and the U.S. will give diplomacy "every chance to succeed."

President Trump said he is "not satisfied" yet with the terms of the deal being negotiated with Iran, asserting the Strait of Hormuz should be open for everybody.

After Iran's state TV published what it purported to be a draft of an initial, unofficial framework for a memorandum of understanding between the U.S. and Iran, the While House adamantly denied its accuracy.

Chip stocks fell after recent strong gains. Bank stocks retreated as JPMorgan Chase warned of higher expenses this year.

The Dow added 0.4 percent to reach a record closing high. The tech-heavy Nasdaq Composite and the S&P 500 both finished marginally higher to reach record closing highs for the second day in a row.

European stocks ended little changed on Wednesday, failing to hold early gains amid uncertainty around trajectory of U.S.-Iran peace talks.

The pan-European STOXX 600 ended flat with a positive bias. The German DAX finished marginally lower, while France's CAC 40 gained 0.4 percent and the U.K.'s FTSE 100 inched up by 0.1 percent.