Indian Stock Market: 10 Key Things That Changed for Market Overnight – Gift Nifty, Trump Tariffs to Wall Street Sell-off
Asian Markets Expected to Open Lower Amid Global Sell-off
The Indian stock market is expected to open lower today, following a sell-off in global markets overnight, driven by escalating trade tensions and tariffs war. Asian markets dropped, with Japan’s Nikkei 225 index slumping 1.03% and South Korea’s Kospi falling 0.41%. The sensex is likely to open lower, following a weak trend in global markets.
Gift Nifty Trading Lower, Signal Weak Start for Indian Stock Market Indices
Gift Nifty is trading around 22,100 levels, a discount of nearly 160 points from the Nifty futures’ previous close, indicating a gap-down start for the Indian stock market indices.
Wall Street Suffers Biggest Loss Since December
The US stock market ended sharply lower, with the S&P 500 posting its biggest daily percentage decline since December 18, following US President Donald Trump’s announcement of tariffs on Canada and Mexico. The Dow Jones Industrial Average declined 649.67 points, or 1.48%, to 43,191.24, while the S&P 500 fell 104.78 points, or 1.76%, to 5,849.72.
Trump Tariffs Take Effect, US Manufacturing PMI Steady
US President Donald Trump has announced the start of 25% tariffs on Canadian and Mexican goods, while the US manufacturing PMI was steady at 50.3 in February, according to the Institute for Supply Management. Economists had forecast the PMI easing to 50.6.
US Suspends Military Aid to Ukraine, Japan’s Unemployment Rate Rises
US President Trump has paused all military aid to Ukraine, following his clash with Ukrainian President Volodymyr Zelenskiy last week. Japan’s unemployment rate rose to 2.5% in January, while the jobs-to-applicants ratio edged up to 1.26.
Gold Prices Steady, Bitcoin Plunges, Crude Oil Prices Fall
Gold prices remained steady at $2,892.64 an ounce, while Bitcoin prices plunged 10% amid escalating trade tensions and uncertainty. Crude oil prices fell 0.46% to $71.29 a barrel, following OPEC’s plans to revive halted production.
10 Key Things That Changed for Market Overnight
- Gift Nifty Trading Lower: Gift Nifty is trading around 22,100 levels, a discount of nearly 160 points from the Nifty futures’ previous close.
- US Stock Market Suffers Biggest Loss Since December: The S&P 500 posted its biggest daily percentage decline since December 18, following Trump’s tariffs announcement.
- Trump Tariffs Take Effect: US President Trump has announced the start of 25% tariffs on Canadian and Mexican goods.
- US Manufacturing PMI Steady: The Institute for Supply Management’s manufacturing PMI remained steady at 50.3 in February.
- US Suspends Military Aid to Ukraine: US President Trump has paused all military aid to Ukraine.
- Japan’s Unemployment Rate Rises: Japan’s unemployment rate rose to 2.5% in January.
- Gold Prices Steady: Gold prices remained steady at $2,892.64 an ounce.
- Bitcoin Prices Plunge: Bitcoin prices fell 10% amid escalating trade tensions and uncertainty.
- Crude Oil Prices Fall: Crude oil prices dropped 0.46% to $71.29 a barrel.
- Asian Markets Drop: Asian markets, including Japan’s Nikkei 225 and South Korea’s Kospi, fell 0.41% and 0.46%, respectively.
What to Expect Today?
The Indian stock market is expected to open lower, tracking global trends, while the US market is likely to continue its decline. With escalating trade tensions and tariffs war, investors may remain cautious, leading to a negative market performance. Keep a close eye on the Nifty and other key indices for further updates and insights.
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