US markets decline, European markets reach all-time highs; GIFT Nifty down

Global Markets Outlook

The S&P 500 fell 0.23 percent to 5,153.85 on March 14 as fresh inflation data showed wholesale prices increased beyond expected levels in February. The Nasdaq Composite traded flat-to-positive at 16,178.86 while the Dow Jones Industrial Average was up 0.15 percent at 38,984.26.

Earlier during the week, US retail inflation data showed heated price pressures for the month of February but investors retained hopes for rate cuts by the Federal Reserve coming in later this year. The GIFT Nifty also traded 0.47 percent lower at 22,158.00 on March 14.

European markets continued their rally for the eighth straight week of gains. The German DAX traded 0.32 percent lower at 17,904.80 at 9:30pm IST despite having reached a new record high of 18,039.05 during intraday trade. This surge came on the back of strong corporate reports in the country. The CAC also hit a record high of 8218.07 on March 14, while it traded 0.23 percent higher at 8,156.10 at 9:30 pm IST. The FTSE was down 0.64 percent at 7,722.35.

Earlier during the day, the Nikkei recovered from previous day's losses and ended 0.29 percent higher at 38,807.38. This increase came as energy stocks gained and several heavyweight shares narrowed early losses. The Hang Seng, however, continued its downfall by another 0.71 percent at 16,961.66 owing to the decline in tech stocks.

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Indian indices ended higher on March 14 owing to broad-based buying. The Nifty ended 0.68 percent higher at 22,146.65 while the Sensex was also up 0.46 percent at 73,097.28.

DIIs net purchased Rs 139.47 crores while the FIIs/FPIs net sold Rs 1356.29 crores.

Crude continued surging for the third day in a row, up 1.72 percent at 81.09. Brent also increased 1.51 percent to 85.30.