GIFT NIFTY futures trade flat, Chinese and Hong Kong indices fall; here's all you need to know before opening bell on March 10

GIFT NIFTY futures indicate a muted start for Indian markets on Monday, led by mixed global cues. The global market cues remain buoyant, with a cautious outlook ahead of key events during the week. The US markets closed in green on Friday, while Asian markets traded mixed on Monday morning, with Chinese indices falling due to weak consumer data for February.

US markets

The US markets closed the volatile week with nearly 3% losses across the board, largely led by Trump’s tariff policies. The week ahead is also expected to remain volatile, with key consumer sentiment and inflation data scheduled to be released. When asked about the risk of recession, President Trump underlined that the US economy is going through a transition amid market turmoil.

Asian markets

The Asian markets largely traded in green except for China and Hong Kong after key macroeconomic data suggested sustained deflation in the economy. Chinese consumer prices fell to 13-month lows of 0.7%, against a rise of 0.5% in the previous month. Following the weak data, the Chinese and Hong Kong indices traded in red with losses of up to 0.5%. On the other hand, the Japanese and Korean indices traded in green with gains of up to 0.3%.

Crude oil

Crude oil prices traded 0.6% lower on Monday morning after posting substantial gains on Friday. WTI crude oil prices hovered around $66.5 per barrel, and Brent crude oil prices traded below $70 per barrel. Weakness in consumer sentiment in the world's top two economies and rising supply from oil producers weighed down on oil prices last week.

FII and DII data

The FIIs continued their selling streak in the first week of march in the derivatives and equities segments both. The FIIs sold ₹2,300 crore worth of equities on Friday and added short-side positions to 1.76 lakh contracts. The FIIs have sold nearly ₹15,500 crore worth of Indian equities in March to date. On the contrary, the DIIs have added Indian equities worth ₹20,950 crore in a similar period, giving support from lower levels and grabbing the opportunity