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Stock Market Update: The GIFT Nifty indicated that Indian equity indices are likely to open on a slightly higher note on Thursday, mirroring early trading trends in Asian markets. This comes after US markets closed positively, driven by gains in tech stocks.
On Tuesday, the NSE Nifty 50 ended marginally lower, shedding 6 points or 0.03% to close at 22,547.55. Conversely, the BSE Sensex rose by 148 points or 0.20%, ending the session at 74,602.
Asian Stock Market Performance
Asian markets traded higher on Thursday morning, buoyed by overnight gains on Wall Street despite renewed tariff threats from US President Donald Trump. Japan’s Nikkei 225 edged up by 0.12% to 38,193, while the Asia Dow climbed 1.5% to 3,870.98. However, South Korea’s Kospi declined by 0.53% in early trade hours. The Shanghai Composite traded flat at 3,380.
US Stock Market Performance
US stock markets closed Wednesday’s session on a positive note, led by Nvidia’s better-than-expected earnings. The S&P 500 inched up 0.01% to 5,956.05, breaking a four-day losing streak. The Nasdaq Composite rose 0.26% to close at 19,075.26. However, the Dow Jones Industrial Average fell by 188.04 points or 0.43%, settling at 43,433.12.
Despite initial gains, stocks retreated from intraday highs amid lingering concerns over President Trump’s ongoing trade war. Nvidia’s stock surged over 3% ahead of its earnings report released after market hours.
Nvidia Earnings Report
Nvidia reported robust fourth-quarter earnings after the market closed on Wednesday, surpassing market expectations. The company forecasted $43 billion in revenue for the first quarter, representing approximately 65% year-over-year growth. This marks a slowdown compared to the 262% growth reported during the same period last year.
Net income rose significantly to $22.09 billion, up from $12.29 billion a year ago. The company’s optimistic guidance signals sustained demand in the semiconductor sector.
US Dollar Movement
The US Dollar Index (DXY), which gauges the dollar’s strength against a basket of six major currencies, dipped 0.13% to 106.56 on Thursday morning. The index evaluates the dollar against the British Pound, Euro, Swedish Krona, Japanese Yen, and Swiss Franc, among others.
Meanwhile, the Indian rupee depreciated 0.55% on February 25, closing at 87.19 against the US dollar.
Crude Oil Prices
Crude oil prices traded higher on Thursday. WTI crude prices rose by 0.22%, reaching $68.78 per barrel, while Brent crude prices climbed 0.28% to $72.73 per barrel.
According to provisional NSE data, foreign institutional investors (FIIs) were net sellers of shares worth Rs 3,529.10 crore on February 25. In contrast, domestic institutional investors (DIIs) were net buyers, acquiring shares worth Rs 3,030.78 crore.
Gold Rates
Gold prices showed a mixed trend on Thursday. The 24-carat gold price stood at Rs 86,140 per 10 grams, reflecting a 0.13% decline over the past week but a notable 6.7% rise over the last month. The 22-carat gold rate was recorded at Rs 78,962 per 10 grams, while the 18-carat gold price stood at Rs 64,605.
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