Indian stock markets are expected to open lower on Friday, February 21, as indicated by the GIFT Nifty. This suggests that both the BSE Sensex and NSE Nifty 50 might extend their losses for another session.
The market has been struggling for the past three days, with benchmark indices closing in the red on Thursday, February 20. The Sensex fell by 203.22 points or 0.27%, ending the day at 75,735.96, while the Nifty 50 slipped 19.75 points or 0.86%, closing at 22,913.15.
Key global and domestic cues to know on February 21, 2025 Asia Markets
Asian markets mostly opened on a lower note as investors reacted to Japan’s inflation data and concerns over potential U.S. tariffs under Donald Trump. Japan’s Nikkei 225 opened 0.43% lower, while the Topix declined 0.33%. South Korea’s Kospi edged down 0.14%, with the Kosdaq slipping 0.12%. Australia’s S&P/ASX 200 bucked the trend, rising 0.18%.
Japan’s inflation
Japan’s inflation picked up pace in January, reaching its highest level in a year. Overall inflation climbed 4% YoY, while the core inflation rate, which excludes fresh food prices, rose to 3.2% from 3% in December.
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After hitting all-time highs earlier in the week, US stock markets took a step back on Thursday, February 20. The Dow Jones Industrial Average saw the biggest drop, plunging 450.94 points or 1.01% to close at 44,176.65. The S&P 500 also slipped 0.43%, settling at 6,117.52, while the Nasdaq Composite lost 0.47%, ending the session at 19,962.36.
US dollar
The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, was up 0.06% at 106.43 on Friday 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 fell 0.26% to close at 86.66 to the dollar on February 20.
Crude oil
Oil prices saw a modest rise on Friday morning. West Texas Intermediate (WTI) crude gained 0.29%, reaching $72.69 per barrel, while Brent crude moved up 0.25% to $76.67 per barrel.
FII, DII data
On February 20, Foreign Institutional Investors (FII) were net sellers,
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