Stock market today: GIFT NIFTY futures down 260 pts; key things to know before market opens

US Markets

The US markets closed lower on Friday after touching record-high levels on Dow Jones and Nasdaq. The markets were buoyant about the earnings of the big tech giants in the US. However, the market sentiments soured on Monday morning after US President Donald Trump announced a 25% tariff on Canada and Mexico and a 10% tariff on China on concerns over illegal immigration and drug trafficking.

The US index futures of Dow Jones and NASDAQ traded 570 and 500 points lower on Monday morning amid rising trade war concerns.

Asian Markets

Taking the cues from the US, the Asian markets traded in the deep red across the board on Monday morning as Japan’s Nikkei fell 1000 points, Hong Kong’s Hang Seng Index fell 340 points, and Korea’s Kospi index fell 71 points or 2.8% lower. China’s Manufacturing PMI stood at 50.1 as against the market expectations of 50.5, indicating slow growth in the already ailing manufacturing sector of the world’s second-largest economy.

Crude oil

The crude oil prices opened nearly 1% higher on Monday morning amid trade war concerns but later gave up all the gains to trade in the red. The OPEC+ pack is scheduled to meet this week as the US President urged oil-producing nations to lower the price in his first speech at the World Economic Forum.

FII DII data

The FII data remained unchanged throughout January as FIIs sold nearly ₹87,000 crore worth of equities for the month. In February till date, foreign investors sold a little over ₹1300 crore, and DIIs bought close to ₹800 crore.

Chart check (Source: upstox.pro, Tradingview)

The markets closed in red on saturday amid wild swings on both side during the budget day. The NIFTY50 and SENSEX failed to give close above the 200 DEMA levels of 23,600 on NIFTY50 and 77,800 on the SENSEX, which now act as a crucial resistence for the markets.