Global Markets Preview: Key Economic Indicators to Monitor

Indian Equity Markets

Market Outlook for March 18

The Indian equity benchmarks, BSE Sensex and Nifty 50, are expected to open with marginal gains, tracking gains in GIFT Nifty, which was trading higher at 23,643.

Recent Market Performance

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After a three-day losing streak, Indian benchmark indices staged a strong rebound in a volatile session, with the Nifty 50 closing comfortably above the 23,400 mark, led by gains in auto, banking, and FMCG stocks. At close, the Sensex was up 938.93 points or 1.26 percent at 75,502.85, and the Nifty was up 257.70 points or 1.11 percent at 23,408.80.

Global Market Performance

• GIFT Nifty: Traded higher at around 23,643, indicating a flat to positive start for the Indian equity markets.
• Asian Equities: Rose while oil edged lower, suggesting investors are trying to look past near-term geopolitical uncertainty and find a measure of stability in markets.
• US Equities: Wall Street ended higher on Tuesday, with gains in Delta Air Lines and other travel stocks, while the Federal Reserve began its two-day policy meeting amid investors' worries about high oil prices and the Middle East conflict. The S&P 500 climbed 0.25% to end the session at 6,716.09 points.
• Dollar Index: Held losses on Wednesday as a glimmer of risk appetite came back to markets ahead of a slate of key central bank decisions.
• US Bond Yield: Was little changed with the yield on the benchmark 10-year at 4.20%, suggesting easing inflation concerns.
• Asian Currencies: Were trading mostly higher in the early Wednesday trade, with the Philippine Peso gaining the most, followed by the Malaysian Ringgit and the Taiwan Dollar.
• Crude: Fell around 1% to trade below $103 a barrel, even as Iran confirmed the death of its security chief in a further intensification of the Middle East war.
• Gold: Traded in a narrow range as investors weighed the Federal Reserve's rate-cut path against inflationary risks from the war in the Middle East.

Fund Flow Action

Read also: US-Iran Tensions Spark Uptick in Oil Prices Amid Global Market Decline

Foreign Institutional Investors (FIIs) extended their selling spree on March 17, offloading equities worth over ₹4,741 crore. In contrast, Domestic Institutional Investors (DIIs) remained net buyers, purchasing equities worth around ₹5,225 crore.