US markets retreat from record highs; GIFT Nifty trades flat-to-positive

Global Markets Outlook

The US markets retreated from their record highs to trade in the red on March 04.

At 20:30 IST, the S&P 500 traded flat-to-negative at 5,132.32 while the Nasdaq Composite was 0.19 percent down at 16,247.60. The Dow Jones Industrial Average traded marginally lower at 39,009.27.

The US markets took a breather from the past week’s bullish run during today’s trading session. The GIFT Nifty, however, traded flat-to-positive at 22,507.00.

Previously, the Indian indices once again ended higher after a record high run. The Nifty ended 0.12 percent higher at 22,405.60 and the Sensex surged 0.09 percent higher at 73,872.29. DIIs net purchased Rs 3,542.87 crores while the FIIs/FPIs net sold Rs 564.06 crores.

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Other Asian indices also traded in the green with the Nikkei ending 0.50 percent higher at 40,109.23 and the Hang Seng ending 0.04 percent higher at 16,595.97.

The European markets ended in the red with the Dax breaking its bullish streak, trading 0.20 percent lower at 17,699.97. The FTSE also traded in the red, down 0.62 percent at 7,635.89. The CAC however traded flat-to-positive at 7,935.14

Crude declined 0.59 percent to 79.50 while Brent was marginally up 0.01 percent at 83.56.