Indian stock markets are expected to open on a positive note today, with early signals from Gift Nifty looking green. On March 20, the Sensex jumped 1.19% to close at 76,348, while the Nifty rose 1.24% to end at 23,190.
Asia Markets
Asian stock markets opened mixed on Friday. Japan’s Nikkei 225 gained 0.34%, while the Topix rose 0.27%. Australia’s S&P/ASX 200 inched up 0.12%,. However, South Korea’s Kospi slipped 0.16%, and the tech-focused Kosdaq dropped 0.86%.
Japan’s Inflation cools to 3.7% in February
Japan’s inflation showed signs of easing in February, with the headline inflation rate coming in at 3.7% year-on-year, down from January’s two-year high of 4%. Core inflation, which strips out fresh food prices, also moderated to 3%, compared to 3.2% in the previous month.
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US stock futures hovered near the flatline after a brief attempt to extend Wednesday’s Federal Reserve-driven rally lost steam. The S&P 500 slipped 0.22%, closing at 5,662.89. The Nasdaq Composite dropped 0.33% to 17,691.63, weighed down by losses in tech giants Apple and Alphabet. Meanwhile, the Dow Jones Industrial Average saw a marginal dip of 0.03%, settling at 41,953.32.
Accenture reports 5% revenue growth in Q2
Global IT services giant Accenture reported a 5% year-on-year revenue growth in the December-February quarter, reaching $16.7 billion, aligning with its projected range of $16.2 billion to $16.8 billion. The company also revised its full-year revenue growth outlook, narrowing the lower band to 5-7% in local currency, compared to its earlier estimate of 4-7%. In Q2 FY25, revenues stood at $16.66 billion, reflecting an 8.5% increase in local currency. However, gross margin dipped to 29.9% from 30.9% a year ago. Looking ahead, Accenture expects revenues between $16.9 billion and $17.5 billion for the third quarter of FY25.
US dollar
The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, was at 103.85 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 settled at 86.37 against the US dollar on March 20.
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