Budget Day: Top Things You Must Know Before the Market Opens!
The GIFT Nifty indicates a positive start for Indian markets, with Nifty futures trading 67 points higher at 23,533 as of 7:00 AM IST.
Market Update 8:15 AM: U.S. stocks ended lower on Friday as investors reacted to concerns over upcoming trade tariffs set to take effect over the weekend. The Dow Jones Industrial Average dropped 312.95 points (0.7 per cent) to close at 44,544. The S&P 500 declined 30.20 points (0.5 per cent) to settle at 6,040, while the Nasdaq Composite slipped 39.55 points (0.2 per cent) to end at 19,627.
Market sentiment weakened after the White House confirmed that President Donald Trump would move ahead with tariffs on Canada, Mexico, and China starting Saturday. White House Press Secretary announced that the administration would impose a 25 per cent tariff on imports from Mexico and Canada and a 10 per cent duty on Chinese goods.
The GIFT Nifty indicates a strong start for Indian markets, with Nifty futures trading 67 points higher at 23,533 as of 7:00 AM IST. Market experts anticipate heightened volatility today as Finance Minister Nirmala Sitharaman unveils the Union Budget at 11 AM.
Indian equities saw significant gains on January 30, as investors positioned themselves ahead of the Union Budget 2025-26. The Nifty climbed 258.90 points (1.11 per cent) to close at 23,508.40, after touching an intraday peak of 23,546.80, up 297.3 points (1.27 per cent).
U.S. Treasury yields moved in different directions, with the 10-year yield increasing by 0.022 points to 4.542 per cent, while the 2-year yield fell 0.007 points to 4.205 per cent.
The dollar index surged past 108.3 following the White House’s confirmation that tariffs—25 per cent on Canada and Mexico and 10 per cent on China—would take effect as scheduled on Saturday, dismissing any reports of a delay.
Crude oil prices extended their upward movement, with WTI futures climbing toward USD 73 per barrel on Friday. Traders closely monitored developments around the tariff deadline, as President Trump reaffirmed plans to implement 25 per cent tariffs on Canada and Mexico but indicated he was still weighing whether to exclude oil from the duties.
On January 30, Foreign Institutional Investors (FIIs) extended their selling streak for the 21st straight session, pulling out Rs 1,188 crore from Indian equities. Meanwhile, Domestic Institutional Investors (DIIs) provided support by investing Rs 2,232 crore.
No stocks are under the F&O ban today.
Disclaimer: The article is for informational purposes only and not investment advice.