First Tick: Top global cues to watch in today’s trade

Asian markets were trading lower in the early Monday trade, with the Kospi plunging nearly 8%, leading a broader regional sell-off as oil prices breached $100 per barrel for the first time since 2022.

• Sensex and Nifty likely to open lower amid global market declines
• Crude oil tops $100/barrel, affecting stocks and currencies
• FIIs sold ₹6,000+ crore; DIIs bought ₹6,971+ crore

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Indian equity benchmarks, the Sensex and Nifty, are likely to see a gap-down opening on March 9, tracking losses in GIFT Nifty, which was trading lower at around 23,844 in early indications.

Track the latest updates on GIFT Nifty right here on Moneycontrol.

Indian benchmark indices failed to sustain the previous session’s momentum and slipped more than 1 percent on March 6, with the Nifty settling at 24,450 amid selling pressure across the sectors, especially in financial and realty stocks.

At close, the Sensex was down 1,097 points or 1.37 percent at 78,918.90, and the Nifty was down 315.45 points or 1.27 percent at 24,450.45.

GIFT Nifty (Slips)

The GIFT Nifty was trading lower at around 23,844, indicating a weak start for the day.

Asian Equities (Decline)

Asian markets were trading lower in the early Monday trade, with the Kospi plunging nearly 8%, leading a broader regional sell-off as oil prices breached $100 per barrel for the first time since 2022.

Japan’s Nikkei 225 tumbled 6.4%, falling below the 52,000 mark for the first time since Feb. 6, while the Topix was down 5%.

US Equities (Slip)

Wall Street's three main indexes closed down ​on Friday amid a sudden setback in the U.S. labor market and a 12% spike in U.S. oil ‌prices due to the escalating conflict in the Middle East.

The Dow Jones Industrial Average fell 0.95% ​to 47,501.55 points, posting its steepest weekly percentage drop since early April 2025.

The S&P 500 lost 1.33% to 6,740 points and saw ​its worst week since mid-October. The Russell 2000 recorded its sharpest weekly fall since early August.

The Nasdaq Composite slipped 1.59% to 22,387.68.

Dollar Index (Up)

The dollar took another leg higher on Monday, jumping to a three-month peak on the euro as oil surged past $100 a barrel, stocks slid, and investors headed for safety as the protracted war in the Middle East threatened to disrupt global energy supplies.

US Bond Yield (Rises)

The yield on 10-year US Treasuries rose more than 4 basis points to 4.18 percent, and 2-year US Treasuries rose nearly 4 basis points 3.71%.

Asian Currencies (Down)

Except China Renminbi, all other Asian currencies were trading lower in the early trade on Monday. However, on a month-to-date basis, the Thai Baht lost the most, followed by the South Korean Won, Singapore Dollar, Japanese Yen, Philippines Peso.

Crude (Jumps)

Crude oil surged above $100 a barrel for the first time since 2022 due to escalating hostilities in the

Middle East and worsening strains on oil shipping, sending stocks and Treasuries lower.

Gold (Down)

Gold and Silver prices were down 2 percent and 4.5 percent, respectively, in the early trade on Monday.

Fund Flow Action

On March 6, Foreign Institutional Investors (FIIs) sold equities worth over Rs 6,000 crore, extending their selling streak to the sixth consecutive session. In contrast, Domestic Institutional Investors (DIIs) bought shares worth more than Rs 6,971 crore.

Hope you're all set for today's trade. We wish you a profitable day ahead.

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