- Global Caution: Indian markets are poised to open lower on Thursday, following caution in Asian markets after Wall Street closed with losses ahead of crucial US inflation data later in the week.
- Gift Nifty Indicator: Gift Nifty, a pre-market trading indicator, suggests a negative start for the benchmark Nifty, with a 14-point decline.
- US Market Performance: On Wednesday, US stock indices ended slightly lower, with the Dow Jones Industrial Average dipping by 0.06%, the S&P 500 falling by 0.17%, and the Nasdaq Composite dropping by 0.55%.
- Asian Market Trends: Asian markets mirrored Wall Street's losses, with Japan's Nikkei 225 down by 0.7%, South Korea's Kospi slipping by 0.8%, and Hong Kong's Hang Seng index futures indicating a marginally higher open.
- US Economic Data: The US economy showed solid growth in the fourth quarter of the previous year, but signs of a slowdown emerged early this year, with gross domestic product (GDP) growing at a revised 3.2% annualized rate.
- Indian Market Recap: On Wednesday, Indian indices closed over 1% lower, with the Sensex dropping by 790.34 points and the Nifty 50 slipping by 247.20 points, driven by selling across sectors, especially impacting midcaps and smallcaps.
- Oil Price Volatility: Oil prices softened on Thursday after a larger-than-expected build in US crude stockpiles, raising concerns about sluggish demand. Brent crude futures fell by 0.3% to $83.46 a barrel, while US West Texas Intermediate crude futures dropped by 0.4% to $78.24 a barrel.
- Gold Market Stability: Gold prices remained steady as traders awaited the Federal Reserve's preferred inflation gauge, with spot gold holding at $2,035.78 per ounce and US gold futures edging 0.1% higher to $2,044.20.
- Rupee Performance: The Indian rupee depreciated by 3 paise to settle at 82.92 against the US dollar on Wednesday, tracking bearish equity markets and foreign fund outflow amid increased month-end demand for the American currency.
- Investor Activity: Foreign institutional investors (FIIs) net sold shares worth ₹1,879.23 crore, while domestic institutional investors (DIIs) bought ₹1,827.45 crore worth of stocks on February 28, according to provisional data from the NSE.
As investors brace for Thursday's trading session, these key developments from both domestic and global markets will likely shape market sentiment and trading activity throughout the day.