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Stock market today: GIFT NIFTY futures jump 72 points on Monday morning on positive global cues for March 24
2 min read | Updated on March 24, 2025, 07:59 IST
SUMMARY
The strong FII buying in the equity markets and short-covering in the derivative markets boosted investor sentiments. The global market cues remain positive with Asian markets opening in green on Monday and GIFT NIFTY futures indicating 72 points gap up on Monday morning.
Asian markets traded in green on Monday morning, taking cues from positive global markets. Image source: Shutterstock.
Indian benchmark indices are expected to open in green taking cues from positive global markets on Monday. The NIFTY50 and SENSEX logged the best weekly gain since July 2022 amid strong buying by foreign institutional investors. The Global market cues remain positive for Monday as US markets closed in green on Friday amid hopes on less disruptive tariffs by the Trump administration. However, market participants remain cautious on April 2, the deadline after which the reciprocal tariffs come into effect.
US markets
The Dow Jones and S&P500 closed 0.3% higher and NASDAQ closed 0.5% higher on Friday. Global investors and market participants now eye on reciprocal tariffs which are expected to come into effect next week. However, media reports indicate the reciprocal tariffs could be narrow in scope, excluding key industries. On Friday, President Trump also suggested there could be some flexibility in his plan which lifted the overall market sentiments.
Asian markets
The Asian markets opened in green across the board on Monday morning amid upbeat US market cues. The Japanese markets, Chinese and Hong Kong indices traded in the green on Monday morning with minor gains. The Japanese Composite PMI fell to 48.5 at a 5-month low led by the sharpest drop in services sector activity in the month.
Crude oil
The crude oil prices gained 2% on Friday after Israel-Gaza intensified after the ceasefire adding to the supply concerns. The WTI crude oil prices jumped above $68 per barrel a month and Brent crude oil prices traded above $71 per barrel mark.
FII and DII data
The foreign institutional investors added Indian equities worth ₹7,470 crore as against DIIs who sold ₹3,202 crore worth of Indian equities on Friday. Similarly, the FIIs reduced their short position in the derivatives market to 96 thousand contracts as compared to 1.8 lakh contracts a week ago. The shift in the stance by the FIIs added bullish momentum to the markets on Friday.
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