U.S. stocks declined as traders waited for Fed chief Jerome Powell’s speech to understand the future direction of key policy rates. S&P 500 declined 0.3%, while the tech-heavy Nasdaq rose 0.2%. Yield on 10-year Treasuries rose five basis points to 3.79%.
Oil surged 2.8% above $80 a barrel after government data showed that U.S. stockpiles declined the most since 2019. Gold futures changed little, while Bitcoin rose 2.2% to trade cross $16,800-level.
The Indian benchmark indices continued their rally to touch new record highs, with Sensex touching the 63,000-mark for the first time ever. All 20 sectoral indices compiled by BSE Ltd. closed in green, with BSE Utilities rising the most at 2.52%.
Rupee registered gains against the U.S. dollar to close higher as the greenback faltered in the global markets and domestic equities surged.