Stock market today: Key things to know before the opening bell on February 20

Indian benchmark indices are expected to open lower, led by negative global cues. The GIFT NIFTY futures traded 62 points lower at 22,896 on Thursday morning. The US continued its winning streak by gaining 0.3% across key indices. Asian markets traded lower on jitters about the Trump administration's new tariffs. In addition, the Fed officials sounded concerned about rising inflation in the US and warned caution in the interest rate policy. Following a hawkish FOMC minutes the gold prices edged higher to new record levels of $2,942 per ounce.

The US markets closed in green on Wednesday ahead of key economic data on jobless claims, scheduled to be released on Thursday. The S&P500 closed at new record high levels by gaining 0.27%, followed by Dow Jones and NASDAQ, which gained marginally.

US markets

The US futures traded lower Thursday morning after Federal Reserve officials sounded concerned about inflation and tariff wars. Fed officials preferred further progress on inflation before considering additional interest rate cuts while also voicing concerns over the potential impact of Trump's tariffs.

Asian Markets

On Thursday morning, Asian markets traded in deep red. The Japanese, Hong Kong, Chinese, and Korean indices traded with losses up to 1.8%. Hawkish Federal Reserve commentary and tariff concerns largely led to the deep cuts. Recently, Trump announced his plans to impose 25% tariffs on automobiles, Pharmaceuticals, and semiconductors.

Oil prices

Crude oil prices halted their three-day gains as US stockpile data showed increased inventory levels in the country. WTI crude oil prices traded below $72 per barrel, and Brent crude oil prices traded at $75.2 per barrel.

FII and DII data

On Wednesday, foreign investors sold Indian equities worth ₹1,881 crore, and DIIs bought equities worth ₹1,957 crore. In the derivatives market, the FIIs reduced their short positions from 1.87 lakh contracts to 1.85 lakh contracts on Wednesday.