Indian equity benchmarks, the Sensex and Nifty, are likely to see a positive start on March 5, tracking gains in GIFT Nifty, which was trading higher at around 24,750 in early indications.
Track the latest updates on GIFT Nifty right here on Moneycontrol.
Amid escalating clashes between the United States and Iran, Indian benchmark indices plunged 1.5% on March 4, extending their slide to 4% in the past three trading sessions.
At close, the Sensex was down 1,122.66 points or 1.40 percent at 79,116.19, and the Nifty was down 385.20 points or 1.55 percent at 24,480.50.
Here is how financial markets across the globe fared overnight:GIFT Nifty (Gains)
The GIFT Nifty was trading higher at around 24,750, suggesting a positive start for the day.
Asian Equities (Rise)
Asian markets snapped their three-day losing streak to trade higher in early deals on Wednesday, led by a sharp rebound in South Korea, where the Kospi surged over 1 percent.
US Equities (Up)
US stocks closed up on Wednesday, after a news report that Iran had signaled openness to talks and a pledge by President Donald Trump to steady oil markets calmed investor anxiety about the Mideast clash.
The Dow Jones Industrial Average rose 238.14 points, or 0.49%, to 48,739.41, the S&P 500 gained 52.87 points, or 0.78%, to 6,869.50 and the Nasdaq Composite gained 290.79 points, or 1.29%, to 22,807.48.
Dollar Index (Down)
The dollar halted its blistering rally on Thursday, providing some reprieve to the battered euro as investors clung on to fragile assumptions that the war in the Middle East may not last as long as initially expected.
US Bond Yield (Flat)
The US Treasury 10-year yield and 2-year yield was down marginally at 4.09% and 3.54%, respectively.
Asian Currencies (Up)
Most emerging-market currencies rebounded on Wednesday, as mixed signals around the Middle East conflict tempered the oil rally and weighed on the dollar.
Crude (Gains)
Oil prices rose on Thursday amid growing concern over the prolonged closure of the Strait of Hormuz, as the U.S.-Iran war chokes off vital Middle East oil and gas flows while production facilities limit output.
Gold (Up)
Gold rose on Thursday as the widening Middle East conflict drove investors towards the safe-haven asset, while a softer dollar also lent support to bullion prices.
Fund Flow Action
Foreign Institutional Investors (FIIs) extended their selling streak for the fourth consecutive session on March 4, offloading equities worth Rs 8,752 crore. Meanwhile, Domestic Institutional Investors (DIIs) continued their buying momentum for the sixth straight day, purchasing shares worth over Rs 12,000 crore, helping offset FII outflows.
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