February 03: Top Things You Must Know Before the Market Opens!
The GIFT Nifty is signaling a subdued opening for the Indian market. At approximately 7:00 AM IST, Nifty futures were trading at 23,382, indicating a negative start.
Market Update 8:15 AM: On Friday, U.S. equities declined after the White House announced that President Donald Trump would implement tariffs of 25 per cent on Canadian and Mexican imports and 10 per cent on Chinese goods starting Saturday. The Dow Jones Industrial Average decreased by 337.47 points, or 0.75 per cent, closing at 44,544.66. The S&P 500 fell by 30.64 points, or 0.50 per cent, ending at 6,040.53, while the Nasdaq Composite dropped 54.31 points, or 0.28 per cent, to settle at 19,627.44.
Asian markets opened lower on Monday following the U.S. administration's decision to impose tariffs on Canada, Mexico, and China over the weekend.
The GIFT Nifty is signaling a subdued opening for the Indian market. At approximately 7:00 AM IST, Nifty futures were trading at 23,382, indicating a negative start.
On February 1, during a volatile Budget Day session, Indian equity indices closed flat despite significant announcements by Finance Minister Nirmala Sitharaman, including an income tax relief package. The Sensex edged up by 5.39 points, or 0.01 per cent, to close at 77,505.96, while the Nifty declined by 26.25 points, or 0.11 per cent, finishing at 23,482.15.
U.S. Treasury yields experienced an uptick, with the 2-year yield rising nearly 1 per cent in response to the new tariffs. The 2-year Treasury yield stood at 4.23 per cent, while the 10-year yield was at 4.51 per cent.
The U.S. dollar strengthened, with the dollar index climbing to 109.7 following the tariff announcements against Canada, Mexico, and China.
WTI crude oil futures increased to around Rs 73.7 per barrel on Monday amid concerns over potential supply disruptions due to the newly imposed U.S. tariffs. The U.S. has announced tariffs of 25 per cent on goods from Canada and Mexico, and 10 per cent on those from China, effective Tuesday.
Foreign Institutional Investors (FIIs) continued their selling trend on February 1, offloading equities worth Rs 1,327 crore. In contrast, Domestic Institutional Investors (DIIs) were net buyers, purchasing equities worth Rs 824 crore on the same day.
No securities are currently under the F&O ban for today.
Disclaimer: The article is for informational purposes only and not investment advice.