Stock market today: Key things to know before the opening bell on February 17

Indian domestic market indices are expected to open cautiously on mixed global markets. The GIFT Nifty futures traded 28 points higher on Monday morning at 7:15 a.m. NIFTY50 and SENSEX corrected nearly 2.7% and 2.5% last weekend, while the broader market indices of NIFTY small cap and NIFTY midcap fell 9.4% and 7.4%, respectively.

US markets

The US markets closed mixed on Friday at near all-time highs, with the Dow Jones and S&P500 closing in red and the NASDAQ closing in green with 81-point gains. The markets digested the higher inflation print and reacted more to tariff war news as President Trump announced reciprocal tariffs.

Asian markets

The Asian markets traded in green across the board, except in Japan. The Japanese indices traded with 25-point losses, while the Chinese, Hong Kong, and Korean indexes traded in green. The Japanese economy grew 0.7% in the previous quarter, much higher than 0.4% in the prior quarter and above the market expectations of 0.3%. The Japanese Yen strengthened to 152 on stronger-than-expected GDP data.

Oil Prices

Crude oil prices continued to fall under oversupply pressures, with expectations of more supply from Iraq and Russia. WTI crude oil prices traded under $71 per barrel, and Brent crude oil prices traded below $75 per barrel.

FII and DII data

Foreign investors maintained their selling stance, selling Indian equities worth ₹30,000 crore in February to date. In the derivatives market, the FIIs increased their short position to 1.89 lakh contracts. On the contrary, the DIIs added a stake in Indian markets, buying equities worth ₹26,000 crore in the first 15 days of February.

Chart check

On a daily chart, the NIFTY50 and SENSEX held support levels of 22,800 and 75,300. Market participants expect the respective levels to remain key support levels for the markets.