Indian Markets to Open Lower Amid Global Sell-Off; IT Stocks Under Pressure
On March 10, 2025, foreign institutional investors (FII) sold shares worth Rs 485.41 crore, while domestic institutional investors (DII) bought shares worth Rs 263.51 crore.
Pre-Market Update at 7:30 AM: Indian equity benchmark indices, Sensex and Nifty 50, are likely to start Tuesday’s session on a weaker note, influenced by a global market downturn. Asian markets were under pressure, while Wall Street closed significantly lower, with the Nasdaq recording its steepest single-day percentage decline since September 2022.
Gift Nifty was trading near the 22,350 level, approximately 136 points lower than the previous close of Nifty futures, signaling a weak opening for Indian stock market indices.
US stocks experienced a sharp decline on Monday amid concerns that the economy might be heading toward a recession. The S&P 500 recorded its steepest single-day drop since December 18, while the Nasdaq saw its largest percentage decline since September 2022.
The Dow Jones Industrial Average tumbled 890.01 points (2.08 per cent) to close at 41,911.71. The S&P 500 fell 155.64 points (2.70 per cent) to 5,614.56, and the Nasdaq Composite dropped 727.90 points (4.00 per cent) to settle at 17,468.32.
Japan's economy grew at a slower rate than initially estimated in the October-December quarter. The country's GDP saw an annualized growth of 2.2 per cent during this period, lower than the earlier estimate of 2.8 per cent and below economists' median forecast. On a quarter-on-quarter basis, the revised data shows a 0.6 per cent expansion in price-adjusted terms, slightly lower than the 0.7 per cent growth reported on February 17.
In the Asian markets, Japan’s Nikkei 225 traded down by 0.40, and the Topix dropped 2.62 per cent. South Korea’s Kospi slipped 2 per cent, and the Kosdaq tanked by 2.07 per cent. Hong Kong’s Hang Seng index futures signaled a weaker open, traded down by 1.36 per cent.
Crude oil prices declined for the second consecutive day due to concerns that US tariffs might weaken economic growth and reduce energy demand, while OPEC continues to increase supply. Brent crude futures dropped 0.53 per cent to USD 68.91 per barrel, and US West Texas Intermediate crude futures slipped 0.74 per cent to USD 65.54 per barrel.
The US dollar index was mostly flat overnight as small rises against the Aussie and sterling were offset by losses on the yen and it settled at 103.89. The USD/INR was trading around 87.35, rising from the previous trade.
On March 10, 2025, foreign institutional investors (FII) sold shares worth Rs 485.41 crore, while domestic institutional investors (DII) bought shares worth Rs 263.51 crore.
Stocks that are banned for trading in the F&O segment on March 11, 2025, are BSE Ltd, Hindustan Copper Ltd, and Manappuram Finance Ltd.
Disclaimer: The article is for informational purposes only and not investment advice.