US markets extend losses ahead of inflation data; GIFT nifty trades flat-to-positive

Crude was up 0.51 percent at 79.31 at 21:00 IST. Brent too was trading half a percent higher at 84.10.

US Markets continued their decline for a second day as investors await inflation data to be released later during the week. At 21:00 IST, the S&P 500 was down 0.21 percent at 5067.44. The Nasdaq composite was also trading 0.51 percent lower at 15954.08 and the Dow also fell 0.4 percent to 38815.59. On the contrary, the GIFT Nifty was trading flat-to-positive at 21888.50.

The European markets traded lower, with the CAC down 0.04 percent to 7943.28 and FTSE 0.6 percent lower at 7634.76. The German DAX, however, traded 0.18 percent up at 17588.50.

Earlier in the day, the Nikkei descended into the red after a bullish run on the previous day, ending at 39208.03. China’s SSE Composite Index also fell nearly 2 percent to 2957.85.

Also Read: Oil prices rise on uncertainty over Gaza ceasefire hopes

The Indian markets paused yesterday’s gains by ending lower on February 28. The Nifty ended over a percent lower at 21951.15 while the Sensex was down 1.08 percent at 72304.88.

DIIs net purchased Rs 1827.45 crores and FII/FPIs net sold Rs 1879.24 crores.

Amid uncertainty over Gaza ceasefire hopes, oil prices continued their surge. Crude was up 0.51 percent at 79.31 at 21:00 IST. Brent too was trading half a percent higher at 84.10.