The market opened with a decline on Nifty weekly expiry. Nifty fell 80 points and was around 25,600. Bank Nifty and Sensex were down 200-200 points. The IT index was slightly up. Around 09:26 am, the Sensex was trading at 83,031, down 247 points. Nifty was down 98 points at 25,583. Bank Nifty was down 311 points at 60,637. Midcap was down 140 points.
Meanwhile, the smallcap index was trading flat. FMCG and IT indices were up. The PSU Bank index was also slightly up. Metals fell more than 1 percent. Realty, NBFC and private bank indices were also down. On the Nifty 50, Asian Paints, BEL, Infosys, Tech Mahindra, HCL Tech, Indigo and TCS were up. Meanwhile, Kwality Walls, Hindalco, Eternal, Shriram Finance, Max Health, Tata Steel and JSW Steel were the top losers today.
After yesterday’s rally, global markets are a bit dull on Nifty’s weekly expiry. GIFT Nifty was trading below 25,650, down 80 points in the morning. Dow futures were flat while US markets were closed yesterday. Today’s trading is likely to be influenced by global cues, commodity movements and some important corporate news from the domestic market. From US tariff fears to crude oil prices and FII-DII flows, many factors will impact the sentiment.
An 18% US tariff is expected to be imposed on Indian goods this week. According to the Commerce Secretary, an Indian team will go to the US next week to finalize the trade deal. It is expected that the deal can be signed in March. If tariffs are implemented, volatility in export sectors may increase.
Heavy fall in gold and silver prices
Pressure in domestic and international markets.
Gold fell ₹1,100 to close below ₹1,54,800.
Silver fell by ₹4,500 and closed below ₹2,40,000.
rise in crude oil
Crude oil prices strengthened ahead of the second round of talks between the US and Iran.
Brent crude rose 1% to above $68.
Oil marketing companies and inflation will keep an eye on the rise in oil prices.
Massive selling in base metals
Copper, aluminum and zinc fell about 1.5–2% on the LME.
There may be pressure in metal stocks.
FII-DII Flow
FIIs sold a net ₹500 crore including cash index and stock futures. DIIs bought for the third consecutive day and invested ₹1,667 crore.
today’s big news
Cochin Shipyard bags order worth ₹5,000 crore from Defense Ministry.
The company will build five next generation survey vessels for the Indian Navy.
Infosys’ Investor AI Day
The company can give an update on its AI strategy and growth roadmap today.
Possibility of movement in tech sector.
New listing after demerger
DCM Shriram International and DCM Shriram Fine Chemicals got listed today.
Both the companies demerged from DCM Shriram.
Special situations and arbitrage traders are on the lookout.
French President will visit India
Emmanuel Macron on three-day visit to India.
Bilateral meeting with PM Modi in Mumbai today.
Many big agreements related to defense are expected.
Will also participate in AI Impact Summit. This news may impact the defence, aviation and tech sectors.