Stock market today: Here's all you need to know about global markets, crude oil price, FII data and more

Indian markets are expected to open positively on Friday, taking cues from positive global markets. The GIFT NIFTY traded 50 points higher at 8:00 a.m. on Friday, indicating a fresh start for Indian markets. The US markets closed at record-high levels amid high optimism about Trump’s economic policies, which are expected to boost domestic growth in the US. All eyes now remain on Bank of Japan policy outcome, which is expected to hike the interest rates.

US markets

The S&P500 closed at record-high levels of 6116, up 53 points on Thursday. The Dow Jones jumped more than 400 points, and the NASDAQ edged marginally higher. The rally in the US markets was largely fueled by Trump’s address at the World Economic Forum, where he asserted that he would cut interest rates immediately and asked Saudi Arabia to lower oil prices.

Following the optimistic comments, the Dollar index fell sharply below 108 and crude oil prices below $74 per barrel.

Asian Markets

The Asian markets traded positively across the board, in line with their global counterparts. The Japanese Nikkei index traded over 400 points higher as investors awaited key policy decisions from the Bank of Japan. Japanese inflation hit a two-year high, giving hope for policy continuation. On the other hand, the Chinese, Hong Kong and Korean indices traded in green across the board.

Crude oil price

Global crude oil prices corrected for a sixth consecutive day. Trump’s address at the World Economic Forum asserted that Saudi Arabia and other oil partners would lower prices to tame inflation and boost domestic demand.

FII and DII data

The FII covered some shorts on Thursday from record levels and lowered the overall shorts position to 3.28 lakh contracts from 3.50 lakh contracts. However, they sold Indian equities worth ₹5,300 crore. The DIIs, on the other hand,, bought equities worth ₹3,700 crore on Thursday.