March 3: Key Market Updates Before Opening Bell
The GIFT Nifty hovered around 22,358 early in the morning, signaling a potential positive start for Indian equities.
Market Update 8:15 AM: Wall Street wrapped up Friday’s session on a positive note, rebounding from earlier volatility. Tech stocks largely advanced, despite a dip in Dell Technologies, following a disastrous outcome from the meeting between U.S. President Donald Trump and Ukrainian President Volodymyr Zelenskiy. The S&P 500 gained 1.59 per cent to settle at 5,954.50, while the Nasdaq advanced 1.63 per cent to close at 18,847.28. The Dow Jones Industrial Average also climbed, rising 1.39 per cent to finish at 43,840.91.
Asian markets were mixed on Monday as investor sentiment remained cautious amid looming tariff concerns. Meanwhile, Bitcoin surged following reports that it would be included in a new U.S. strategic cryptocurrency reserve.
The GIFT Nifty hovered around 22,358 early in the morning, signaling a potential positive start for Indian equities.
Indian stock markets had a rough session on February 28, as both the Sensex and Nifty tumbled nearly 2 per cent. A widespread sell-off, triggered by concerns over an escalating global trade conflict and a slowing U.S. economy, resulted in a market capitalization loss of Rs 8.8 lakh crore.
The U.S. Treasury yields inched higher, with the 10-year bond yield rising to 4.24 per cent, while the 2-year yield climbed to 4.02 per cent, reflecting investor caution.
The U.S. dollar index dipped slightly in early Monday trade, standing at 107.29 against a basket of major currencies.
Brent crude prices declined by 1.67 per cent, dropping USD 1.20 per barrel to trade at USD 70.42. This comes as investors evaluated supply risks and economic concerns. Historically, crude oil reached an all-time high of USD 147.27 in July 2008.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 11,639 crore on February 28, while Domestic Institutional Investors (DIIs) stepped in, purchasing stocks worth Rs 12,308.63 crore.
No stocks are currently under the F&O ban list.
Disclaimer: This article is for informational purposes only and not investment advice.