Indian stock markets are set to open on a positive note on March 6, with GIFT Nifty indicating at a green start. After a volatile session earlier this week, investor confidence seems to be picking up, paving the way for a steady opening.
Breaking a 10-day losing streak, Indian markets saw a strong recovery on March 5. The Sensex climbed 740 points or 1.01% to close at 73,730, while the Nifty gained 255 points 1.15%, crossing the 22,300 mark.
Key global and domestic cues to know on March 6, 2025
Trump’s “Reciprocal tariff on India”
US President Donald Trump has once again criticized India’s high tariffs, particularly in the auto sector, where he claims duties exceed 100%. Speaking at a Joint Session of Congress, he warned that starting April 2, the US will impose reciprocal tariffs, mirroring India’s levies. He also hinted at using non-monetary trade barriers if India restricts US market access.
Asian Markets
Asian markets saw a mixed start on Thursday, with most indices trading higher driven by US President Donald Trump’s decision to delay tariffs on select automakers. Japan’s Nikkei 225 climbed 0.76%, while the broader Topix index advanced 0.78%. South Korea’s Kospi added 0.61%, and the Kosdaq followed with a modest 0.38% uptick. Meanwhile, Australia’s S&P/ASX 200 bucked the trend, slipping 0.48%.
Bond yields surge as selloff spreads across Asia
Asian bond markets saw sharp declines, with Japan’s 10-year yield hitting 1.5%, a level unseen since 2009 amid inflation concerns and rising borrowing costs. A global selloff, triggered by heavy selling in German bunds, rippled through fixed-income markets, sending US Treasury yields higher for the third straight session to around 4.3%. Yields in Australia and New Zealand also jumped by 10 basis points, while Asian equities found support from a delay in certain US tariffs on Mexico and Canada.
US-China Trade War heats up: Beijing strikes back
Tensions between the US and China have escalated after President Trump announced steep tariff hikes on Chinese imports. In response, Beijing hit back with tariffs of up to 15% on key US agricultural goods like pork, soy, chicken, and beef. The move sent shockwaves through global markets. China also ramped up regulatory pressure on American firms. Meanwhile, the Chinese Embassy in Washington criticized the US for linking the dispute to fentanyl production, urging negotiations over threats. “If war is what the US wants, we are ready to fight till the end,” China warned, signalling a tough stance in the ongoing trade battle.
US markets
Wall Street ended on a positive note Wednesday, with major indexes closing higher. The Nasdaq Composite led the gains, climbing 1.46% or 267.57 points to settle at 18,552.73. The Dow Jones Industrial Average advanced 485.60 points, up 1.14%, to close at 43,006.59, while the S&P 500 gained 1.12% or 64.48 points, settling at 5,842.63.
US dollar
The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, was down 1.35% at 104.31 on Thursday 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 closed at 86.96 to the dollar on March 5.
Crude oil
Crude oil prices inched up on Thursday, with West Texas Intermediate (WTI) crude rising 0.21% to $66.50 per barrel, while Brent crude gained 0.28% to $69.50 per barrel.
FII, DII data
On March 5, foreign institutional investors (FIIs) continued their selling streak, offloading shares worth Rs 2,895 crore, according to provisional data. Meanwhile, domestic institutional investors (DIIs) stepped up, purchasing shares worth Rs 3,370 crore, providing support to the market.
Gold rate today
Gold prices in India today stand at Rs 8,799 per gram for 24 carat gold, Rs 8,066 per gram for 22 carat gold, and Rs 6,600 per gram for 18 carat gold. For 10 grams, 24 carat gold price today is Rs 87,990, 22 carat gold is priced at Rs 80,660, and 18 carat gold is available for Rs 66,000.