The Indian stock market is set to start the day on a cautious note, with the GIFT Nifty suggesting a mixed to slightly negative opening. This sentiment aligns with the performance of early Asian markets, which displayed a variety of trends. While U.S. markets finished positively last Friday, investor confidence was dampened by a wave of tariff announcements throughout the week.
Market Performance Recap
On Friday, the NSE Nifty 50 closed down by 420 points, or 1.86%, settling at 22,124.70. The BSE Sensex experienced a sharper decline, falling 1,414 points or 1.90%, to finish at 73,198.
Key Global and Domestic Updates for March 10, 2025
Asian Markets Overview
Asian markets were mixed on Monday morning. The trade tensions instigated by U.S. President Donald Trump weighed heavily on investor sentiment. Japan’s Nikkei 225 remained stable at 36,886, while the Asia Dow slid 1.6% to 3,717.31. Conversely, South Korea’s Kospi saw a slight increase of 0.37%, reaching 2,573. The Shanghai Composite remained flat at 3,373.
U.S. Market Highlights
In contrast, U.S. stock markets concluded last Friday on a high note. The S&P 500 gained 0.55%, closing at 5,770.20. The Dow Jones Industrial Average added 222.64 points (or 0.52%), finishing at 42,801.72, while the Nasdaq Composite rose 0.7%, concluding the day at 18,196.22.
China’s Retaliation to Tariffs
In response to U.S. tariffs, China has introduced tariffs ranging from 10% to 15% on various products, particularly targeting agricultural goods such as rapeseed oil and pea products. These tariffs will take effect starting Monday.
US Dollar Index Movements
The US Dollar Index (DXY), which gauges the dollar’s performance against a selection of six major foreign currencies, showed a decline of 0.23%, sitting at 103.60. This index serves as a barometer for the dollar’s strength relative to currencies like the British Pound and Euro. Notably, the Indian Rupee appreciated by 0.29%, closing at 86.87 against the dollar on March 7.
Crude Oil Prices
Crude oil prices continued their downward trend on Monday morning. WTI crude was priced at $66.83, down 0.29%, while Brent crude traded at $70.17, reflecting a decrease of 0.28%.
Foreign and Domestic Investor Activity
According to provisional data from the NSE, foreign institutional investors (FIIs) sold shares worth Rs 2,320.36 crore, while domestic institutional investors (DIIs) matched that figure, purchasing shares worth Rs 2,320.36 crore on March 7, 2024.
Current Gold Prices
For gold enthusiasts, the price of 24-carat gold today stands at Rs 86,140 per 10 grams, reflecting a 0.5% drop over the past week but a 1.3% increase in the last month. The price for 22-carat gold is Rs 78,962 per 10 grams, while 18-carat gold is priced at Rs 64,605.
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