Global markets have recovered after yesterday's weakness, even as US-Iran tensions continue. The Nasdaq gained nearly 1%, while the Dow and S&P 500 ended almost flat. Asian markets are trading strongly, led by South Korea (+6%), with Japan, Taiwan, Hong Kong, Singapore and China also in green. However, Gift Nifty indicates a flat opening. Brent crude has cooled to around $85.8, but remains elevated. The rupee, which closed near 96.2 yesterday, and rising bond yields continue to be key concerns. IT stocks may stay under pressure after Infosys ADR and Wipro ADR fell over 3% in the US. At 2:30 PM, India will release its June Trade Balance data. Along with developments in the Middle East, this will be an important trigger for today's market.

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