Indian Stock Market Sees Dramatic Overnight Shifts Amid Global Events

Indian Stock Market Review: Thursday, March 11

Market Outlook

The Indian stock market is expected to open lower and extend losses on Thursday, driven by weakness in global markets. Rising crude oil prices due to the escalating US-Iran war have fueled inflation concerns and spooked investors.

Global Market Cues

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• Asian markets traded lower, with Japan's Nikkei 225 declining 1.6% and the Topix falling 1.34%.
• South Korea's Kospi dropped 0.75%.
• Hong Kong's Hang Seng index futures indicated a lower start.
• The US stock market ended mixed overnight, with the Dow Jones Industrial Average declining 289.24 points, or 0.61%, to 47,417.27.

Key Indices

• Sensex closed at 76,863.71, down 1,342.27 points, or 1.72%.
• Nifty 50 settled at 23,866.85, down 394.75 points, or 1.63%.

Global Economic Indicators

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• US Consumer Price Index (CPI) rose 0.3% in February, in line with economists' expectations.
• International Energy Agency (IEA) announced a release of 400 million barrels of oil from its emergency stockpile.
• US Treasury yields rose 6.3 basis points to 3.632% for the 2-year note and 7 basis points to 4.206% for the 10-year note.

Commodity Prices

• Crude oil prices surged 7.40% to $98.79 a barrel for Brent crude and 6.87% to $93.34 for US West Texas Intermediate (WTI) futures.
• Gold prices fell 0.2% to $5,165.73 per ounce, while silver prices remained steady at $85.82 per ounce.