Global Markets to Watch: Key Cues for Today's Trading Sessions

Market Update - March 6, 2024

Indian Equity Benchmarks are expected to open lower, tracking losses in GIFT Nifty, which is currently trading at 24,605.

Key Statistics

• Sensex: down 1,122.66 points or 1.40% at 79,116.19
• Nifty: down 385.20 points or 1.55% at 24,480.50

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Global Markets

• Asian Equities: fell on Friday, with markets on track for their steepest weekly loss in six years due to the Middle East conflict and Iranian strikes.
• US Equities: closed down on Thursday, with the Dow Jones Industrial Average falling 784.67 points or 1.61% to 47,954.74.
• S&P 500: lost 0.56% to 6,830.71.
• Nasdaq Composite: closed down 0.26% to 22,748.99.

Currency and Commodities

• US Dollar: held broadly steady in early Asian trade on Friday.
• WTI Crude: moving lower after the US Treasury Secretary announced a 30-day waiver to allow Indian refiners to buy Russian oil.
• Gold: on track for the first weekly loss in more than a month, pressured by a stronger US dollar and inflationary risks.

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Fund Flow Action

• Foreign Institutional Investors (FIIs): continued selling on the fifth consecutive session, offloading equities worth Rs 3,752 crore.
• Domestic Institutional Investors (DIIs): continued buying momentum for the seventh straight day, purchasing shares worth over Rs 5,000 crore.