As investors will assess the Union Budget 2025-26, here are some key things to know before markets open. GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 are poised to see a lower start on Monday. Also, Asian markets opened slipped in early trade hours.
Previously, on Saturday, the NSE Nifty 50 closed the session 26.25 points or 0.11% lower at 23,482.15, while the BSE Sensex rose 5.39 points or 0.01% to close at 77,505.96.
Key global and domestic cues to know on February 03, 2024 Asia Markets
Asia markets traded on a lower note as US President Donald Trump imposed tariffs on Canada, Mexico, and China on Saturday. Japan’s Nikkei 225 was trading 1.97% lower at 38,793.27. The Asia Dow was trading 1.36% lower at 3,721.44. South Korea’s Kospi slid 2.32% in early trade hours and Kosdaq traded 1.9% lower. The Chinese stock market is still closed on account of the Lunar New Year.
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The US stock futures fell sharply after US President Donald Trump signed tariffs on key trade partners. The S&P 500 Futures fell 1.6% to 5,970.25. Nasdaq Composite Futures lost 2.1% to 21,089.25. The Dow Jones Industrial Average Futures dropped 463 points, or 1%, to 44,233.
Trump’s tariff card
US President Donald Trump implemented a 25% tariff on Canada and Mexico on Saturday. He also slapped a 10% tariff on imports from China. On an around, the US does $1.6 trillion of business with these three countries.
US dollar
The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, was up almost 1% at 109.56 on Monday 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.
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