Stock market today: GIFT NIFTY indicates negative opening for Indian markets on weak global cues

US markets

The US markets closed in deep red, especially on the NASDAQ with 2% losses as investor concerns rise on tariff impact on the economy. The Dow Jones and S&P 500 closed with 0.3% and 1% losses on Wednesday. Trump unveiled 25% tariffs on all cars and light trucks starting next week, widening the trade war. Investor outlook also remains focused on reciprocal tariffs set to be announced on April 2.

Asian markets

The Japanese and Korean indices fell over 1% on Thursday morning after Trump’s auto tariff announcement plunged shares of car makers in Japan and Korea. Shares of Toyota Motors, Mazda, Honda Motor, and Nissan Motor fell up to 3.5% on Thursday morning. Similarly, shares of Korean auto maker Hyundai and Kia Motors too fell up to 2% following the announcements.

Crude oil

The crude oil prices extended gains on Wednesday after Trump’s auto tariff announcement. Meanwhile, the US stockpiles also fell by 3.3 million barrels last week. The WTI crude oil prices gained 1% overnight and hovered around $70 per barrel and Brent crude oil prices gained 1.2% to trade near $74 per barrel.

FII and DII data

The FIIs continued their buying spree for a fifth consecutive session on Wednesday. The FIIs bought Indian equities worth ₹2,240 crore, and on the flip side, DIIs sold Indian equities worth ₹696 crore. In the derivatives market, FIIs reduced their short position to multi-month lows at 83 thousand contracts compared to 1.7 lakh contracts last week