Index Update: The FTSE 100 index, a key benchmark index for the London stock exchange, was trading declined around 0.17% on 02 April 2026. 

Macro Update: Global markets are currently defined by resilient growth clashing with geopolitical volatility. While inflation is easing toward 3%, the Middle East conflict has spiked oil prices, forcing central banks to keep interest rates higher for longer. Sentiment remains cautiously bearish as investors pivot from AI-driven equities toward gold and safe-haven assets. 

Top Market Movers: Among top gainers on FTSE 100 index, BP PLC (LSE: BP.) witnessed a rise of 4.18% followed by Shell PLC (LSE: SHEL) witnessed a rise of 3.21%. 

Commodity Update: Commodity Update: The dollar advanced against major currencies on Thursday as investors returned to safe-haven assets after President Donald Trump said U.S. military strikes on Iran would continue for another two to three weeks. Although Trump said the conflict could end soon, his remarks reduced hopes for an immediate ceasefire. Commodity markets moved sharply, with gold falling 2.17% to USD 4,708.45, silver declining 5.21% to USD 72.12, and copper slipping 1.13% to USD 12,303.00. Meanwhile, Brent crude surged 4.83% to USD 106.03 per barrel. 

Our Stance: A cautious yet opportunistic stance favors U.S. equities and Indian growth while hedging energy-driven inflation. Priority remains on quality over growth as hawkish central banks persist, utilizing commodity exposure to buffer against escalating Middle East volatility and systemic supply-chain risks. 

FTSE 100: The FTSE 100 Index is currently trading near 10,298.10, declining around 0.64%, but continues to remain above its 21-day moving average near 10,198.19 while staying marginally below its 50-day moving average near 10,356.02, indicating a mixed near-term structure. The price action reflects a rebound after the sharp March pullback, with recent candles suggesting improving stability. Momentum has strengthened, with the RSI near 52.17, indicating recovery above neutral levels. On the downside, 10,200.00–10,000.00 may act as a near-term base zone, while 10,350.00–10,500.00 is likely to remain a key hurdle, potentially limiting further recovery. 

Source: Charts by EODHD/Others

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