The GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a positive opening on Tuesday.
Previously, on Monday, the BSE Sensex lost 319 points or 0.41%, closing at 77,186, while the NSE Nifty 50 slipped 121 points or 0.52% to 23,361.
Key global and domestic cues to know on February 03, 2025 Asia Markets
Asian stock markets saw a boost following President Donald Trump’s decision to delay tariffs on Mexico and Canada for another month, coupled with his announcement of ongoing talks with China. Japan’s Nikkei 225 surged 1.47%, reaching 39,087.17, while South Korea’s Kospi gained 2.08% in early trading. Stocks in Australia also experienced notable gains.
US markets
US markets saw a recovery from intraday lows after President Donald Trump paused tariffs on Canada and Mexico. The Dow Jones rebounded 542 points but still closed 120 points lower. The S&P 500 ended below 6,000, down 0.7%, while the Nasdaq trimmed losses by 250 points but still finished with a decline of over 1%.
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US President Donald Trump announced a 30-day delay in imposing 25% tariffs on Canadian and Mexican imports after high-level discussions with their leaders. The decision came late Monday night following commitments from Canadian Prime Minister Justin Trudeau and Mexican President Claudia Sheinbaum to strengthen border security with the United States.
US dollar
The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, was down 0.29% at 108.70 on Tuesday morning. The index evaluates the strength or weakness of the US dollar in comparison to major currencies. The basket contains currencies such as the British Pound, Euro, Swedish Krona, Japanese Yen, Swiss Franc, etc.
Crude oil
Crude oil prices saw a slight dip on Tuesday morning. WTI crude was trading at $75.53, down by 0.56%, while Brent crude rose by 1.12%, reaching $72.37.
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On February 3, Foreign Institutional Investors (FIIs) reported a net outflow of Rs 3,958.37 crore with purchases of Rs 12,505.92 crore and sales of Rs 16,464.29 crore. Domestic Institutional Investors (DIIs) saw a net inflow of Rs 2,708.23 crore as their purchases stood at Rs 19,319.48 crore against sales of Rs 16,611.25 crore.
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