The Indian stock market is expected to open lower on Wednesday, March 6, as indicated by GIFT Nifty trends. Investors remain cautious after a volatile session on Monday, where markets swung between gains and losses before closing.
The Sensex closed in the red for the third straight session, while the Nifty 50 extended its losing streak to ten sessions – the longest since its inception nearly three decades ago. By the end of the day, the Sensex had dropped 96 points (0.1%) to 72,989, while the Nifty slipped 36 points (0.2%) to 22,082.
Key global and domestic cues to know on March 5, 2025 Asian Markets
Asian markets started mostly on a positive note on Wednesday, despite lingering concerns over US trade policies under President Donald Trump. Japan’s Nikkei 225 edged up 0.25%, while the Topix gained 0.28%. South Korea’s Kospi climbed 1.09%, with the smaller Kosdaq index rising 1.26%. However, Australia’s S&P/ASX 200 saw a decline of 0.73%
China economic report
China has outlined key economic targets for 2025. The government has set a GDP growth target of around 5% and plans to keep inflation in check with a consumer price index growth target of about 2%. To support economic activity, China intends to maintain its budget deficit at approximately 4% of GDP and introduce 500 billion yuan in special sovereign bonds for major banks. The country also aims to control urban unemployment at around 5.5% and create over 12 million new urban jobs.
US markets
Wall Street extended its losses for the second straight session as concerns over U.S. trade policies rattled investor sentiment. President Donald Trump’s 25% tariffs on Canada and Mexico took effect on Tuesday, with China also facing an additional 10% duty, prompting all three nations to prepare retaliatory measures. The impact was felt across major U.S. indices, with the Dow Jones dropping 670 points (1.55%) to 42,520.99, marking another sharp decline. The S&P 500 slipped 1.22% to 5,778.15, following its worst session of the year, while the Nasdaq Composite edged down 0.35% to close at 18,285.16.
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The trade war intensified as the US imposed 25% tariffs on imports from Mexico and Canada, along with higher duties on Chinese goods.
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