Global setup looks mixed this morning. Wall Street closed slightly weaker overnight, with the S&P 500 down ~0.2% and Dow marginally lower, while Nasdaq ended nearly flat. The big macro development is crude oil. Brent has dropped sharply below $88 after spiking near $120 earlier, as reports say the IEA may consider its largest ever emergency oil reserve release to stabilize supply. For India, cheaper oil is a major macro positive, especially for aviation, paints and tyre companies where fuel is a key cost. Meanwhile, Asian markets are trading firm, with strong gains in Japan and South Korea. Gift Nifty is indicating a muted start for domestic indices, suggesting markets may open cautious despite the oil tailwind. Geopolitical sentiment remains sensitive after Trump hinted that the US-Iran conflict could end sooner than expected.

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