Ahead of elections in Karnataka and the uncertainty on trade relations between the US and China even though all markets have closed in big margins except forex market.

• Internationally, there is no indication that fed rates are currently on the rise.
• The US inflation rate is lower than the expectations.
• Domestically, the quarterly results of ICICI Bank and Asian Paints are closed with expected results.
• IT stocks gain support with the rupee falling to 15-month low.

Commodity and Forex Markets

• Crude oil prices have soared due to US restrictions on Iran, as well as gold and silver are also closed at higher prices.
• The rupee weakened by 0.47 paise against the dollar in the forex market.