February 28: Key Market Updates Before Opening Bell
The GIFT Nifty hovered around 22,532 early in the morning, signaling a flat-to-muted opening for domestic equities.
Market Update 8:15 AM: Wall Street had a rough session on Thursday as disappointing earnings from Nvidia triggered a sell-off in tech stocks, dampening the AI-driven optimism. The S&P 500 slid 1.59 per cent to finish at 5,861.57, while the Nasdaq took a steep 2.78 per cent hit, closing at 18,544.42. The Dow Jones Industrial Average also declined, shedding 0.45 per cent to settle at 43,239.50.
Asian markets followed suit, trading lower on Friday as investors digested weak sentiment from Wall Street, additional details regarding U.S. tariffs, and mixed economic signals.
The GIFT Nifty hovered around 22,532 early in the morning, signaling a flat-to-muted opening for domestic equities.
Indian stock indices wrapped up a lackluster session on February 27 (F&O expiry day) with negligible movement. The Sensex edged up by just 10.31 points or 0.01 per cent to close at 74,612.43, while the Nifty slipped 2.50 points or 0.01 per cent to 22,545.05.
The 10-year U.S. Treasury yield eased by 58 basis points to 4.23 per cent, with the 2-year yield dropping 51 basis points to 4.03 per cent, indicating a cautious stance from fixed-income investors.
The U.S. dollar gained safe-haven traction, climbing to 107.21 ahead of anticipated tariff announcements from former President Donald Trump. However, it remained on track for a monthly decline as market participants weighed trade uncertainties against a softening U.S. economic outlook.
Brent crude prices dipped to approximately USD 73 per barrel on Friday, reversing some of the prior session’s gains of over 2 per cent. Market sentiment was impacted by supply considerations, particularly after President Trump revoked Chevron’s license to operate in Venezuela, potentially tightening global oil availability.
The Foreign Institutional Investors (FIIs) sold equities worth Rs 556 crore on February 27. However, Domestic Institutional Investors (DIIs) bought equities worth Rs 1,727 crore on the same day.
No stocks are under the F&O ban list today.
Disclaimer: This article is for informational purposes only and not investment advice.