Global Markets Preview: Key Indicators to Monitor in Today's Trading Session

Indian Equity Markets: Weak Open Expected on March 4

Key Highlights

• Indian equity benchmarks, Sensex and Nifty, are likely to open on a weak note today, March 4, tracking losses in GIFT Nifty, which was trading lower at around 24,458.50 in early indications.
• The Sensex fell 1,048.34 points or 1.29% to 80,238.85 at close on March 2, while the Nifty declined 312.95 points or 1.24% to 24,865.70.

Global Market Update

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• Asian stocks extended their slide into a third day, with oil prices edging up due to the war in Iran, which threatens to unleash global inflation and lead traders to pare bets for interest-rate cuts by the Federal Reserve.
• US stocks ended sharply lower on Tuesday, with the S&P 500 falling 0.9% after dropping more than 2% early in the session.
• The Dow Jones Industrial Average fell 403.51 points, or 0.83%, to 48,501.27, while the Nasdaq Composite lost 232.17 points, or 1.02%, to 22,516.69.

Currency and Commodity Update

• The dollar rallied to a three-month high in early trading in Asia on Wednesday, with investors retreating from the euro due to fears of a sustained rise in energy prices.
• Brent crude oil futures are up more than 12% for the week at $81.40 a barrel.
• Gold rose after tumbling more than 4% in the previous session, as traders weighed a stronger dollar against demand for safer assets amid escalating tensions in the Middle East.

Market Action

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• Foreign Institutional Investors (FIIs) extended their selling for the third consecutive session on March 2, offloading equities worth Rs 3,295 crore.
• Domestic Institutional Investors (DIIs) continued their buying streak for the fifth straight day, purchasing equities worth over Rs 8,593 crore.