Top Things You Must Know Before the Market Opens!
The GIFT Nifty suggested a favorable start for Indian stocks, with Nifty futures trading at 23,488 around 7:10 AM IST.
Market Update 8:15 AM: U.S. stock markets ended Monday’s session with solid gains as optimism surrounding AI-related stocks, led by Nvidia, provided a strong boost. Steel manufacturers also rallied after former President Donald Trump reaffirmed plans to implement additional tariffs on steel and aluminum imports. The Dow Jones Industrial Average climbed 168.01 points, or 0.38 per cent, closing at 44,470.41. The S&P 500 advanced 40.45 points, or 0.67 per cent, to finish at 6,066.44, while the Nasdaq Composite surged 190.87 points, or 0.98 per cent, settling at 19,714.27.
Asian equities traded mostly higher on Tuesday, mirroring Wall Street's gains. Investor sentiment remained upbeat despite ongoing concerns about trade policies.
The GIFT Nifty suggested a favorable start for Indian stocks, with Nifty futures trading at 23,488 around 7:10 AM IST.
Domestic equity benchmarks witnessed a sharp decline on February 10, mirroring losses across broader Asian markets. Investor concerns heightened following former U.S. President Donald Trump's commitment to enforcing import tariffs, raising fears of global trade disruptions. By the closing bell, the Sensex tumbled 548 points, or 0.7 per cent, to settle at 77,311.80. The Nifty50 index also declined by 178.35 points, or 0.76 per cent, ending at 23,381.60.
Yields on the U.S. Treasury bonds remained unchanged on Tuesday, with the 10-year yield holding at 4.75 per cent and the 2-year yield steady at 4.37 per cent.
The U.S. dollar maintained its strength, edging slightly higher to 108.34 on Tuesday, following the announcement of increased tariffs on steel and aluminum imports. Market participants also awaited further details on potential reciprocal tariffs.
WTI crude oil prices sustained their gains above USD 72 per barrel on Tuesday, maintaining a nearly 2 per cent rise from the previous session. Supply concerns deepened as Russian crude production dropped further below its OPEC+ quota in January, while fresh U.S. sanctions targeted individuals and tankers transporting Iranian oil to China.
Gold prices surged past USD 2,930 per ounce on Tuesday, reaching an all-time high. Mounting trade tensions and economic uncertainty drove safe-haven demand, particularly after the U.S. imposed extensive tariffs on steel and aluminum imports, with expectations of additional trade restrictions ahead.
Foreign Institutional Investors (FIIs) were net sellers on February 10, offloading equities worth Rs 2,463 crore. Domestic Institutional Investors (DIIs) countered some of the selling pressure, purchasing equities worth Rs 1,515 crore on the same day.
Manappuram Finance remains under the F&O ban today.
Disclaimer: The article is for informational purposes only and not investment advice.