Global Market Outlook: Key Indicators to Monitor in Today's Trading Sessions

Indian Equity Market Outlook for March 12

The Indian equity benchmarks, Sensex and Nifty, are expected to open lower, tracking losses in GIFT Nifty, which traded at around 23,800.

Market Performance The Nifty 50 fell below 23,850 intraday on March 11, amid selling across sectors. At close, the Sensex was down 1,342.27 points or 1.72 percent at 76,863.71, and the Nifty was down 394.75 points or 1.63 percent at 23,866.85.

Global Market Updates

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• Asian Equities: Shares fell in Asia on March 11, driven by rising oil prices due to increased tensions in the Strait of Hormuz and Iraqi waters, fuelling inflation and pushing borrowing costs higher.
• US Equities: US stocks closed lower on March 9, with the Dow Jones Industrial Average falling 289.24 points or 0.61% to 47,417.27, the S&P 500 losing 5.68 points or 0.08% to 6,775.80, and the Nasdaq Composite gaining 19.03 points or 0.08% to 22,716.14.
• Dollar Index: The dollar inched up against major currencies in early trade.
• US Bond Yield: The yield on 10-year US Treasuries remained flat at 4.22 percent, while 2-year US Treasuries rose marginally to 3.66 percent.

Commodity Prices

• Crude Oil: West Texas Intermediate crude rose 7% to $93.86 a barrel, while Brent crude jumped more than 7%.
• Gold and Silver: Prices traded lower at USD 5,158 per ounce and USD 85.47 per ounce, respectively.

Fund Flow On March 11, Foreign Institutional Investors (FIIs) sold equities worth Rs 6,267 crore, extending their selling streak to the ninth consecutive session, while Domestic Institutional Investors (DIIs) continued their buying for the 11th straight day, purchasing equities worth Rs 4,965 crore.

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