Indian equity benchmarks, the Sensex and Nifty, are likely to see a negative start on March 6, tracking losses in GIFT Nifty, which was trading lower at around 24,605 in early indications.
Track the latest updates on GIFT Nifty right here on Moneycontrol.
Benchmark indices ended sharply higher on Thursday, with the Sensex rising 900 points, or 1.14 percent, to close at 80,015, while the Nifty gained 285 points, or 1.17 percent, to settle at 24,765. The rally was broad-based, supported by strong buying in metals, infrastructure, energy and auto stocks, while volatility cooled significantly through the session.
Here is how financial markets across the globe fared overnight:GIFT Nifty (Down)
The GIFT Nifty was trading lower at around 24,605, suggesting a weak opening for the day.
Asian Equities (Fall)
Asian equities fell on Friday, leaving markets on track for their steepest weekly loss in six years as the protracted Middle East conflict and renewed Iranian strikes drove a broad retreat in risk assets.
US Equities (Slip)
US stocks closed down on Thursday as the Middle East conflict entered its sixth day pushing oil prices higher and spurring worries about inflation and whether the Federal Reserve will cut interest rates.
The Dow Jones Industrial Average fell 784.67, or 1.61%, to 47,954.74 points, the S&P 500 lost 0.56%, to 6,830.71 points and the Nasdaq Composite closed down 0.26%, to 22,748.99 points.
Dollar Index (Flat)
The US dollar held broadly steady in early Asian trade on Friday and was poised for its steepest weekly gain in more than a year as the escalating conflict in the Middle East drove demand for safe-haven assets.
US Bond Yield (Flat)
The yield on 10-year US Treasures and 2-year US Treasuries up marginally at 4.13% and 3.58%, 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 (Down)
WTI crude is moving a bit lower after US Treasury Secretary Bessent announced a 30-day waiver to allow Indian refiners to buy Russian oil, including some that is stranded at sea. Such measures are likely to merely slow gains in oil prices, rather than bring energy costs down rapidly.
Gold (Flat)
Gold was on track for the first weekly loss in more than a month, pressured by a stronger US dollar and inflationary risks tied to the ongoing war in the Middle East.
Fund Flow Action
Foreign Institutional Investors (FIIs) continued their selling on fifth consecutive session on March 5, offloading equities worth Rs 3,752 crore. Meanwhile, Domestic Institutional Investors (DIIs) continued their buying momentum for the seventh straight day, purchasing shares worth over Rs 5,000 crore, helping offset FII outflows.
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