Indian Equity Markets

Market Outlook

The Indian equity benchmarks, Sensex and Nifty, are expected to see a firm opening on March 16, tracking gains in GIFT Nifty, which traded higher at around 23,339.50.

Previous Day's Performance

Read also: Treasury Yields Experience Largest Increase in Two Weeks Following Release of Labor Market Data

The Sensex closed at 74,563.92, down 1,470.50 points or 1.93 percent, while the Nifty closed at 23,151.10, down 488.05 points or 2.06 percent.

GIFT Nifty

The GIFT Nifty traded higher at around 23,339.50, indicating a positive opening for the Indian equity markets.

Global Markets

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

Asian Equities: Asian markets were in a wary mood on Monday, with hostilities in the Gulf keeping oil prices elevated, complicating an inflation outlook.

US Equities: US stocks ended down on Friday, capping a week in which erratic crude oil prices whipsawed equities. The Dow Jones Industrial Average fell 119.38 points, or 0.26%, to 46,558.47, while the S&P 500 lost 40.43 points, or 0.61%, to 6,632.19, and the Nasdaq Composite lost 206.62 points, or 0.93%, to 22,105.36.

Currency and Bond Markets

The Dollar Index held near a 10-month high on Monday, while the US Treasury 10-year yield fell 2 basis points to 4.25%, and the 2-year US Treasuries slipped nearly 2 basis points at 3.70%.

Commodities

Crude Oil: Oil prices slipped on Monday, paring early gains after US President Donald Trump called on other countries to help safeguard the Strait of Hormuz. Gold wavered, as the conflict in the Middle East entered a third week and investors weighed a softer dollar against continued threats to global oil supplies.

Fund Flows

Foreign Institutional Investors (FIIs) extended their selling to the 11th consecutive session on March 13, offloading equities worth over ₹10,000 crore, while Domestic Institutional Investors (DIIs) offset the outflows with purchases of nearly ₹10,000 crore.