Indian benchmark indices Sensex and Nifty 50 are likely to open flat to negative on March 5 tracking cues from GIFT Nifty trading around 22,135, a short while ago this morning.
Track the latest updates on GIFT Nifty right here on Moneycontrol.
Indian equity indices ended lower but off day’s low in the volatile session on March 4 with Nifty falling below 22,000, intraday, for the first time since June 5, 2024 amid weak global markets as investors worried over global trade war after Trump reiterated to levy 25 percent tariff on imports from Mexico and Canada.
At close, the Sensex was down 96.01 points or 0.13 percent at 72,989.93, and the Nifty was down 36.65 points or 0.17 percent at 22,082.65.
Here is how financial markets across the globe fared overnight:GIFT Nifty (Down)
The GIFT Nifty is trading marginally lower at around 22,135, indicating a flat to negative start for the day.
Asian Equities (Mixed)
Asian stocks fluctuated, with losses contained as US Commerce Secretary Howard Lutnick suggested the Trump administration may walk back some tariffs that sparked a global selloff in markets.
US Equities (Down)
US stocks ended lower on Tuesday, with the tech-heavy Nasdaq veering near correction territory, as trade tensions escalated following U.S. President Donald Trump's new tariffs on Canada, Mexico and China.
The Dow Jones Industrial Average fell 670.25 points, or 1.55%, to 42,520.99, the S&P 500 lost 71.57 points, or 1.22%, to 5,778.15 and the Nasdaq Composite lost 65.03 points, or 0.35%, to 18,285.16.
US Bond Yield (Down)
The yield on 10-year Treasuries declined 22 basis point to 4.23%, while yield on 2-year Treasuries fell 20 basis point to 3.97%
Dollar Index (Flat)
The US dollar drooped near a three-month low versus major peers on Wednesday while shares in Asia were mixed after the latest round of U.S. tariffs and countermeasures from Canada and China stoked fears of an escalating trade war.
Asian currencies (Up)
Asian currencies were trading mostly higher against the major currencies in the early trade on Wednesday.
Crude (Down)
Oil prices fell for a third session on Wednesday as plans by major producers to raise output in April combined with concerns U.S. tariffs on Canada, Mexico and China will slow economic and fuel demand growth hammered investor sentiment.
Gold (Down)
Gold prices edged lower after gaining in the previous session.
Fund Flow Action
The Foreign institutional investors (FIIs) extended their selling on March 4 as they sold equities worth Rs 3405 crore. However, domestic institutional investors (DIIs) also extended their buying as they bought equities worth Rs 4851 crore, on the same day.
Hope you're all set for today's trade, we wish you a profitable day ahead.
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