Indian equity markets are expected to open lower on Friday, February 28, as indicated by the GIFT Nifty, suggesting a weak start for both the BSE Sensex and NSE Nifty 50.
Indian markets ended the day on a muted note on February 27. The Sensex added a modest 10 points to close at 74,612, while the Nifty saw a slight dip of 2.5 points, settling at 22,545.
Key global and domestic cues to know on February 28, 2025 Asia Markets
Asian markets opened lower on Friday after US President Donald Trump said that tariffs on imports from Mexico and Canada would take effect next week. Australia’s S&P/ASX 200 dropped 0.86%, while Japan’s Nikkei 225 slipped 0.9% in early trade, with the broader Topix index down 0.68%.
South Korea’s Kospi also saw a sharp fall of 1.54%, and the small-cap Kosdaq declined 1.69%.
Tuhin Kanta Pandey appointed as new SEBI chairman
The government has appointed Finance Secretary Tuhin Kanta Pandey as the 11th chairman of the Securities and Exchange Board of India (SEBI). He will take over from Madhabi Puri Buch, whose three-year tenure ends on Friday.
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Wall Street closed sharply lower on Thursday. The S&P 500 slipped 1.59% to 5,861.57, while the Nasdaq saw a sharper drop of 2.78%, ending at 18,544.42. The Dow Jones also edged lower, falling 0.45% to settle at 43,239.50.
Trump’s tariff plan- Higher duties on Canada, Mexico, and China
After a month-long delay, US President Donald Trump announced on Thursday that a 25% tariff on imports from Canada and Mexico will take effect on March 4, citing inadequate efforts to curb drug trafficking across the border. In addition, Trump stated that China, which is already subject to a 10% tariff on its exports to the U.S., will face an additional 10% duty starting the same day.
US dollar
The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, was up 0.01% at 107.26 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,
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