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.
US markets
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, offloading shares worth Rs 3,311 crore. In contrast, Domestic Institutional Investors (DII) stepped in as net buyers, purchasing stocks worth Rs 3,907 crore, providing some support to the market.
Gold rate today
The cost of gold today in India stands at Rs 8,805 per gram for 24-karat gold, while the 22 kt gold rate today is Rs 8,071 per gram, according to Goodreturns.
For 18 carat gold rate today, the price is Rs 6,604 per gram. In terms of bulk pricing, 10 grams of 24K gold costs Rs 88,050, while 10 grams of 22K gold is priced at Rs 80,710. Meanwhile, 10 grams of 18K gold is available for Rs 66,040.
Corporate action
A total of 17 companies will witness corporate actions on the BSE on February 21. Several firms, including Bombay Burmah Trading (Rs 13 per share), India Nippon Electricals (Rs 12.50), and Nirlon (Rs 15), have declared interim dividends. Procter & Gamble Health leads the pack with a Rs 80 per share payout. Other companies like Cantabil Retail, Career Point, and Manappuram Finance have also scheduled interim dividends. Meanwhile, Rajath Finance has set its record date for a rights issue, and Mcnally Bharat Engineering has an ex-date for its resolution plan suspension.
Cryptocurrency
Bitcoin rose 1.1%, trading above $97,000. Ethereum and BNB saw slight gains, with Ethereum at $2,743.52 and BNB at $653.27. Cardano and Solana posted growth, up 3.34% and 3.29%, respectively. Overall, the crypto market remained steady, with major coins holding their positions.