Global Market Outlook: Key Indicators to Watch in Today's Trading Session

Market Outlook

Indian equity benchmarks, the Sensex and Nifty, are expected to open on a positive note on March 5, following gains in the GIFT Nifty, which is trading at around 24,750 in early indications.

Market Performance

On March 4, the Sensex plummeted by 1,122.66 points or 1.40% to close at 79,116.19, while the Nifty fell by 385.20 points or 1.55% to end at 24,480.50.

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Global Markets

Asian markets snapped their three-day losing streak, with the Kospi surging over 1% in South Korea. In the US, the Dow Jones Industrial Average rose by 238.14 points or 0.49% to close at 48,739.41, while the S&P 500 gained 52.87 points or 0.78% to end at 6,869.50 and the Nasdaq Composite increased by 290.79 points or 1.29% to close at 22,807.48.

Currency and Commodities

The Dollar Index halted its rally, providing some relief to the battered euro. Crude oil prices rose amid growing concerns over the prolonged closure of the Strait of Hormuz, while gold prices increased as investors sought safe-haven assets.

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Fund Flows

Foreign Institutional Investors (FIIs) extended their selling streak for the fourth consecutive session, offloading equities worth Rs 8,752 crore. Meanwhile, Domestic Institutional Investors (DIIs) continued their buying momentum for the sixth straight day, purchasing shares worth over Rs 12,000 crore.