GIFT Nifty hints at a higher opening for Indian equity markets on Monday (February 17), indicating a positive start for the BSE Sensex and NSE Nifty 50.
Previously, the Indian stock market ended the week on a weak note, extending its losing streak to eight consecutive sessions. On Friday, the BSE Sensex dropped 199.76 points to close at 75,939.21 after briefly tumbling nearly 700 points during intraday trade, while the NSE Nifty 50 slipped 102.15 points to settle at 22,929.25. Over the week, the Sensex shed 1,920.98 points or 2.46%, and the Nifty declined 630.7 points or 2.67%.
Key global and domestic cues to know on February 17, 2025 RBI to inject $16 billion for liquidity support
To ease liquidity pressure ahead of tax outflows, the RBI will infuse over $16 billion into the banking system next week. It has doubled its bond purchase target to Rs 40,000 crore and included the 6.79% 2034 bond in the upcoming auction. With GST payments due soon, the central bank is also conducting a Rs 1 trillion repo auction to manage liquidity.
Asia Markets
Asia-Pacific markets opened mostly higher, with South Korea’s Kospi rising 0.18% and the small-cap Kosdaq up 0.35%.
In Japan, the Nikkei 225 hovered near the flatline, while the Topix inched up 0.15%. Japan’s economy grew 0.7% quarter-on-quarter in the fourth quarter, surpassing analysts expectations, according to preliminary government data released Monday. This follows a revised 0.4% growth in the previous quarter.
Hong Kong’s Hang Seng index futures stood at 22,521, while Australia’s S&P/ASX slipped 0.64%.
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The US stock markets, including the Nasdaq and New York Stock Exchange, will remain closed today, February 17, in observance of Presidents Day, also known as Washington’s Birthday. Trading will resume as usual on Tuesday, February 18.
Wall Street closed on a mixed note Friday. The S&P 500 barely changed, slipping 0.01% to 6,114.63. The Nasdaq edged up 0.41% to 20,026.77, while the Dow Jones fell 0.37% to 44,546.08. Treasury yields declined after Donald Trump proposed reciprocal tariffs without introducing new ones.
US dollar
The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies,
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