Indian stock markets are likely to open lower on Tuesday, March 4, as indicated by GIFT Nifty trends. Investors remain cautious after a volatile session on Monday, where markets swung between gains and losses before settling nearly flat.
On Monday, the Sensex closed 112 points lower at 73,085, while the Nifty dipped 5 points to end at 22,119. Both indices experienced sharp fluctuations, with the Sensex moving between 72,784 and 73,649, and the Nifty trading within a range of 22,004 to 22,261.
Key global and domestic cues to know on March 4, 2025
Asian Markets
Asian markets opened lower on Tuesday, following a sharp drop on Wall Street after U.S. President Donald Trump confirmed that tariffs on Mexico and Canada would move forward. This led to cautious trading across the region, with Japan’s Nikkei 225 falling 1.03% and the Topix index down 0.61%. South Korea’s Kospi slipped 0.41%, while the smaller Kosdaq index saw a bigger drop of 1.43%. In Australia, the S&P/ASX 200 also started the day weak, losing 1.11%.
US markets
US stock markets took a sharp hit on Monday after President Donald Trump announced a 25% tariff on imports from Canada and Mexico. The Dow Jones Industrial Average plunged 649 points, closing at 43,191, while the S&P 500 dropped 104 points to settle at 5,849. The Nasdaq Composite took the hardest hit, sliding 497 points to finish at 18,350 a 2.64% decline.
Trump’s tariff
President Donald Trump on Monday said that the US will impose 25% tariffs on imports from Canada and Mexico starting Tuesday, shutting down any possibility of a last-minute deal. Speaking at the White House, Trump stated that negotiations had reached a dead end, leaving no room for further talks. The decision raises concerns over escalating trade tensions with two of America’s key trading partners, potentially impacting supply chains and economic ties.
US dollar
The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, was down 0.12% at 106.42 on Tuesday 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 87.34 to the dollar on March 3.
Crude oil
Crude oil prices saw a dip on Tuesday morning as market sentiment remained cautious. West Texas Intermediate (WTI) crude slipped 0.18% to $68.25 per barrel, while Brent crude declined 0.42% to $71.32 per barrel.
FII, DII data
Foreign Institutional Investors (FIIs) continued their selling spree on March 3, offloading shares worth Rs 4,788 crore from Indian markets. On the other hand, Domestic Institutional Investors (DIIs) emerged as buyers, investing Rs 8,790 crore.
Gold rate today
Gold prices in India remain steady, with 24 carat gold priced at Rs 8,661 per gram and Rs 86,610 for 10 grams. The 22 carat gold rate today stands at Rs 7,939 per gram and Rs 79,390 for 10 grams. Meanwhile, 18mcarat gold is available at Rs 6,496 per gram, translating to Rs 64,960 for 10 grams.
Cryptocurrency
Cryptos saw significant volatility. Following President Trump’s announcement of crypto reserve, Bitcoin jumped to around $94,834. However, it retracted to around $86,000. Similarly, Ethereum peaked at $2,548 before declining to just above $2,100. Other cryptocurrencies, including Solana, Cardano, and XRP, mirrored this pattern of initial spikes followed by rapid pullbacks.