GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 are implied to open on a lower note on Monday. Also, Asian markets opened majorly on a mixed note in early trade hours. Further, the market will be reacting to Trump’s new blanket tariff plans.
Previously, on Friday, the NSE Nifty 50 finished the session 43.40 points or 0.18% lower at 23,559.95, while the BSE Sensex lost 197.97 points or 0.25% to close at 77,860.19.
Key global and domestic cues to know on February 10, 2024 Asia Markets
Asia markets traded on a mixed note tracking US stock futures that were lower. Plus, US President Trump said he is planning to announce a 25% tariff on all steel and aluminium imports. Japan’s Nikkei 225 opened on a lower note to trade 0.11% lower at 38,744.86. The Asia Dow was trading 0.22% higher at 3,816.94. South Korea’s Kospi declined 0.14% in early trade hours. The Shanghai Composite rose 0.02% to 3,304.48.
US markets
The US stock markets closed Friday on a lower note as tariffs and inflation worried investors. The S&P 500 lost 0.95% to finish at 6,025.99. Nasdaq Composite Futures declined 1.36% to end at 19,523.40. The Dow Jones Industrial Average slipped 444.23 points, or 0.99%, to 44,303.40.
Trump’s tariff returns
US President Donald Trump said he plans to impose 25% tariffs on all imports of steel and aluminium. The new tariffs would come on top of existing metals duties in another major escalation of his trade policy overhaul. He said the U.S. would match tariff rates levied by other countries and that this would apply to all countries.
US dollar
The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, was down almost 0.29% at 108.35 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. The rupee appreciated 0.21% to close at 87.42 to the dollar on February 07.
Crude oil
The crude oil prices have edged higher. WTI crude prices were trading at $71.41 up by 0.60%, while Brent crude prices were trading at $75.09 up by 0.57%,
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