Gift Nifty Hints at Flat to Negative Opening for Indian Markets

On March 11, 2025, foreign institutional investors (FII) sold shares worth Rs 2,001.79 crore, while domestic institutional investors (DII) bought shares worth Rs 2,823.76 crore

Pre-Market Update at 7:30 AM: Gift Nifty hovered near the 22,550 mark, trading at a discount of around 8 points compared to the previous close of Nifty futures. This suggests a flat to slightly negative opening for Indian stock market indices, influenced by mixed global signals. 

While most Asian markets traded in positive territory, U.S. stocks closed lower overnight due to developments in tariff policies and progress toward a potential ceasefire between Ukraine and Russia. 

The U.S. stock market closed in the red on Tuesday as concerns over new tariff threats weighed on global economic sentiment. The Dow Jones Industrial Average fell by 478.23 points (1.14 per cent) to settle at 41,433.48. The S&P 500 also declined, losing 42.49 points (0.76 per cent) to end at 5,572.07, while the Nasdaq Composite slipped 32.23 points (0.18 per cent) to close at 17,436.10.

US President Donald Trump initially announced plans to double tariffs on Canadian steel and aluminum to 50 per cent but later retracted the decision within hours. This reversal followed a similar move by a Canadian official, who withdrew a proposed 25 per cent surcharge on electricity imports.

Job openings in the United States increased by 232,000 to 7.74 million in January 2025, up from a revised 7.51 million in December and surpassing the market expectation of 7.63 million.

Ukraine has agreed to a 30-day ceasefire with Russia, as proposed by US officials during talks in Saudi Arabia. This interim ceasefire, which may be extended through mutual consent, is contingent on Russia’s acceptance and concurrent implementation.

The US dollar initially strengthened to a one-week high before weakening against the Canadian dollar due to tariff developments. The Canadian dollar appreciated by 0.06 per cent to CUSD 1.44 per US dollar. Meanwhile, the euro touched a five-month high at USD 1.0909, while the US dollar gained 0.38 per cent against the Japanese yen, reaching 147.82.

In the Asian markets, Japan’s Nikkei 225 index rose 0.42 per cent, while the Topix index rose 0.72 per cent. South Korea’s Kospi index rallied 1.31 per cent, while the Kosdaq gained 1.58 per cent. Hong Kong’s Hang Seng index futures pointed to a weaker opening.

Japan’s wholesale inflation stood at 4.0 per cent in February, aligning with market expectations but easing from January’s 4.2 per cent increase. The corporate goods price index (CGPI) reflected this slowdown, while yen-based import prices dropped by 0.7 per cent after recording a 2.3 per cent rise in January.

Crude oil prices traded higher as the US cut its forecast for an oversupply. Brent crude oil gained 0.09 per cent to USD 69.96 a barrel, while the US West Texas Intermediate (WTI) crude futures rallied 0.42 per cent to USD 66.39.

The US dollar index was mostly flat overnight and it traded at 103.49. The USD/INR was trading around 87.12, declining from the previous trade.

On March 11, 2025, foreign institutional investors (FII) sold shares worth Rs 2,001.79 crore, while domestic institutional investors (DII) bought shares worth Rs 2,823.76 crore.

Stocks that are banned for trading in the F&O segment on March 12, 2025, are Indusind Bank Ltd, Steel Authority of India Ltd, Hindustan Copper Ltd, BSE Ltd and Manappuram Finance Ltd.