The GIFT Nifty indicated that the Indian equity indices will open on a muted note as they take cues from early trading across Asia. However, the US markets slumped for the second trade session on Tuesday as new tariffs kick in.
Earlier on Tuesday, the NSE Nifty 50 closed the session 38 points or 0.17% higher at 22,498, while the BSE Sensex fell 13 points or 0.02% to close at 74,102.
Key global and domestic cues to know on March 12, 2025
Asia Markets
Asia markets are relatively stable despite the overnight fall across Wall Street. The 25% tariff on Canadian steel and aluminium comes into effect starting today. Japan’s Nikkei 225 was trading 0.03% higher at 36,805. However, the Asia Dow was trading 1.3% down at 3,649.04. South Korea’s Kospi was up 1.33% at 2,571. The Shanghai Composite traded flat at 3,379.83.
US markets
The new tariffs proposed by US President Donald Trump weighed on US markets on Tuesday. The S&P 500 fell 0.76%, closing at 5,572.07. The Dow Jones Industrial Average declined almost 478 points, or 1.14%, to close at 41,433.48. The Nasdaq Composite slipped 0.18%, ending the session at 17,436.10.
Trump’s tariff war
US President Donald Trump will not increase tariffs on Canadian steel and aluminum imports to 50%. The reversal came six hours after Trump announced his plan to double import duties on the Canadian metals in response to Ontario’s decision to slap a 25% tax on electricity exports to the U.S. However, the tariffs of 25% are still going ahead and will take effect from March 12.
US dollar
The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, was up 0.03% at 103.44 on Wednesday 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 appreciated 0.15% to close at 87.21 to the dollar on March 12.
Crude oil
The crude oil prices trade higher on Wednesday. WTI crude prices were trading at $66.71 up by 0.70%, while Brent crude prices were trading at $69.92 up by 0.52%, on Wednesday morning.
FII, DII data
Foreign institutional investors (FII) were net sellers of shares worth Rs 2,823.76 crore. Meanwhile, the Domestic institutional investors (DII) were net buyers of shares worth Rs 2,001.79 crore on March 11, 2024, according to the provisional data available on the NSE.
Gold rate today
The 24-carat gold price today is Rs 86,470 per 10 grams. The rate of gold has risen by 0.31% in the past one week and jumped 0.55% in the last one month. The 22 kt gold rate today is Rs 79,264 per 10 grams. The 18-carat gold price today is Rs 64,853.