As investors will assess the Union Budget 2025-26, here are some key things to know before markets open. GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 are poised to see a lower start on Monday. Also, Asian markets opened slipped in early trade hours. 

Previously, on Saturday, the NSE Nifty 50 closed the session 26.25 points or 0.11% lower at 23,482.15, while the BSE Sensex rose 5.39 points or 0.01% to close at 77,505.96.

Key global and domestic cues to know on February 03, 2024

Asia Markets

Asia markets traded on a lower note as US President Donald Trump imposed tariffs on Canada, Mexico, and China on Saturday. Japan’s Nikkei 225 was trading 1.97% lower at 38,793.27. The Asia Dow was trading 1.36% lower at 3,721.44. South Korea’s Kospi slid 2.32% in early trade hours and Kosdaq traded 1.9% lower. The Chinese stock market is still closed on account of the Lunar New Year.

US markets

The US stock futures fell sharply after US President Donald Trump signed tariffs on key trade partners. The S&P 500 Futures fell 1.6% to 5,970.25. Nasdaq Composite Futures lost 2.1% to 21,089.25. The Dow Jones Industrial Average Futures dropped 463 points, or 1%, to 44,233. 

Trump’s tariff card

US President Donald Trump implemented a 25% tariff on Canada and Mexico on Saturday. He also slapped a 10% tariff on imports from China. On an around, the US does $1.6 trillion of business with these three countries. 

US dollar 

The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, was up almost 1% at 109.56 on Monday 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. 

Crude oil

Following the US tariffs, the crude oil prices have edged higher. WTI crude prices were trading at $73.78 up by 1.75%, while Brent crude prices were trading at $76.23 up by 0.74%, on Monday morning. 

FII, DII data

Foreign institutional investors (FII) were the net sellers of shares net worth Rs 1,327.09 crore. Meanwhile, the Domestic institutional investors (DII) were the net buyers of shares worth Rs 824.38 crore on February 01, 2024, according to the provisional data available on the NSE.

Quarterly results

Power Grid Corp, Divi’s Lab, Aditya Birla Capital, Alembic Pharmaceuticals, Barbeque-Nation Hospitality, Castrol India, Bombay Dyeing, DOMS Industries, Gateway Distriparks, Dredging Corporation of India, General Insurance Corporation of India, Garden Reach Shipbuilders & Engineers, Gland Pharma, HFCL, KEC International, KPR Mill, Jyoti Structures, NLC India, Paradeep Phosphates, Premier Energies, Poly Medicure, Shalby, Stove Kraft, Shankara Building Products, Vishnu Prakash R Punglia, Tata Chemicals, and Welspun Enterprises will announce their quarterly earnings for third quarter of the current financial year on February 3.