Indian equity benchmarks, Sensex and Nifty, are likely to open on a negative note today, March 2, following gains in GIFT Nifty, which was trading lower at around 25,232.
Track the latest updates on GIFT Nifty right here on Moneycontrol.
The Indian benchmark indices ended lower on February 27, with the Nifty closing below the 25,200 mark amid broad-based selling across sectors, except IT and media. After a weak start, the market remained under pressure throughout the session due to subdued global cues and rising geopolitical tensions, which kept investor sentiment cautious.
At close, the Sensex was down 961.42 points or 1.17 percent at 81,287.19, and the Nifty was down 317.90 points or 1.25 percent at 25,178.65. Nifty Midcap and smallcap indices are also down 1% each.
Here is how financial markets across the globe fared overnight:GIFT Nifty (Down)
The GIFT Nifty was trading lower at around 25,232, indicating a lower start.
Asian Equities (Fall)
Asian markets tumbled Monday as the conflict between Iran and U.S.-Israel escalates, following the death of Iranian Supreme Leader Ayatollah Ali Khamenei, raising concerns over energy supplies.
US Equities (Down)
Financial and tech stocks were hit hard by a handful of persistent investor worries on Friday, with U.S. stocks suffering their largest monthly percentage declines in a year.
The Dow Jones Industrial Average fell 521.28 points, or 1.05%, to 48,977.92, the S&P 500 lost 29.98 points, or 0.43%, to 6,878.88 and the Nasdaq Composite lost 210.17 points, or 0.92%, to 22,668.21.
Dollar Index (Up)
The dollar jumped on Monday as investors headed for safety after the U.S. and Israel bombed Iran, killing Supreme Leader Ayatollah Ali Khamenei to open a power vacuum and raise the risk of a protracted Mideast war.
US Bond Yield (Up)
The US Treasury 10-year yield and 2-year yield jumped more than 2 basis points to 3.96% and 3.39%, respectively.
Asian Currencies (Down)
Asian currencies were trading lower in early trade on Monday with South Korean Won leading the losers followed by Philippines Peso, Thai Baht, China Renminbi, Indonesian Rupiah, Japanese Yen.
Crude (Jumps)
Oil prices surged on Monday and shares slid as military conflict in the Middle East looked set to last weeks, sending investors flocking to the relative safety of the dollar, gold and bonds.
Gold (Rises)
Gold prices rose as much as 2% on Monday after the U.S. and Israel launched major strikes on Iran, killing Supreme Leader Ayatollah Ali Khamenei, escalating geopolitical tensions and deepening global economic uncertainty.
Fund Flow Action
On February 27, Foreign Institutional Investors (FIIs) offloaded equities worth Rs 7536 crore, while Domestic Institutional Investors (DIIs) bought equities worth over ₹12,000 crore.
Hope you're all set for today's trade. We wish you a profitable day ahead.
Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
