GIFT Nifty:
The GIFT Nifty February 2025 futures contract is up 8.50 points, indicating a positive opening in the Nifty 50 index today.
Institutional Flows:
Foreign portfolio investors (FPIs) sold shares worth Rs 6,286.70 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 5,185.65 crore in the Indian equity market on 21 February 2025, provisional data showed.
According to NSDL data, FPIs have sold shares worth Rs 34274.40 crore (so far) in the secondary market during February 2025. This follows their sale of shares worth Rs 81903.72 crore in January 2024.
Global Markets:
US Dow Jones index futures were up 85 points, indicating a positive opening in the US stocks today.
Asian shares slipped on Tuesday, driven by concerns over potential U.S. investment restrictions on Chinese technology sectors and anticipation of Nvidia's earnings. The Bank of Korea's expected 0.25% interest rate cut provided limited support to South Korean stocks.
Hong Kong's Hang Seng index continued its downward trend from Monday, following U.S. measures aimed at limiting Chinese investment in strategic areas like semiconductors, artificial intelligence, and aerospace.
Investor sentiment was further dampened by continued uncertainty surrounding potential U.S. tariffs on Mexico and Canada, despite prior hopes of negotiated resolutions.
U.S. indices finished lower on Monday, with tech stocks leading the decline. This followed sharp losses in the previous session, fueled by growing concerns about a potential slowdown in the U.S. economy, as indicated by weaker consumer sentiment data.
The S&P 500 fell 0.5% to 5,983.49 points, while the NASDAQ Composite slid 1.2% to 19,286.93 points. The Dow Jones Industrial Average closed up 0.1% at 43,461.95 points.
All eyes are now on Nvidia's quarterly earnings release, scheduled for after the U.S. market close on Wednesday. Investors are particularly focused on whether the company maintained its high growth trajectory driven by strong demand for its advanced artificial intelligence chips.
Domestic Market:
Domestic equity benchmarks continued their losing streak for the fifth straight day on Monday, taking cues from Wall Street’s sharp decline on Friday. The sell-off in U.S. equities was driven by fears of weaker consumer spending and the possibility of fresh tariffs, which sent jitters across global markets. By the end of the day, the Nifty slipped below 22,600. IT, metal, and energy stocks took a hit, while FMCG and auto shares found some takers, offering a silver lining in an otherwise gloomy session.
The S&P BSE Sensex tumbled 856.65 points or 1.14% to 74,454.41. The Nifty 50 index dropped 242.55 points or 1.06% to 22,553.35. In the past five trading sessions, the Sensex and Nifty declined by 2.03% and 1.77%, respectively.