The Indian stock market benchmark indices, Sensex and Nifty 50, are expected to open lower on Wednesday, following sharp losses in the global markets as the escalating US-Israeli air strikes against Iran heightened geopolitical uncertainty.
Asian markets traded lower, while the US stock market ended with steep losses overnight, with the S&P 500 closing below its 100-day moving average for the first time since November 20.
The Indian stock market was closed for trading on Tuesday, March 3, on account of Holi 2026.
On Monday, the Indian stock market crashed as the war in the Middle East triggered a surge in crude oil prices and rattled global risk sentiment.
The Sensex cracked 1,048.34 points, or 1.29%, to close at 80,238.85, while the Nifty 50 settled 312.95 points, or 1.24%, lower at 24,865.70.
“Given the heightened volatility and global uncertainty, we reiterate our advice to maintain a cautious stance, keep position sizes light and focus on disciplined risk management,” said Ajit Mishra – SVP, Research, Religare Broking Ltd.
Here are key global market cues for Sensex today:
Asian Markets
Asian markets traded lower on Wednesday on worries a wider Mideast war could deliver an energy shock that raises inflation and delays rate cuts. Japan’s Nikkei 225 declined 2.5% in a third straight session of losses, while the Topix dropped 1.61%. South Korea’s Kospi crashed 7.24% and the Kosdaq plunged 5.56%. Hong Kong Hang Seng index futures indicated a lower opening.
Gift Nifty Today
Gift Nifty was trading around 24,432 level, a discount of nearly 550 points from the Nifty futures’ previous close, indicating a massive gap-down start for the Indian stock market indices.
wall street
US stocks ended sharply lower on Tuesday on worries that the Middle East war could persist long enough to lift inflation.
The Dow Jones Industrial Average declined 403.51 points, or 0.83%, to 48,501.27, while the S&P 500 fell 64.99 points, or 0.94%, to 6,816.63. The Nasdaq Composite closed 232.17 points, or 1.02%, lower at 22,516.69.
Nvidia stock price dropped 1.27%, AMD shares fell 3.86%, Microsoft shares gained 1.35%, Apple stock price eased 0.37%, while Blackstone shares plunged 3.8%. Tesla stock price declined 2.70%.
US-Israel-Iran War
The US-Israeli war on Iran escalated across the region, which President Donald Trump says has no fixed timeline. Iran launched a fresh wave of missiles around the Gulf. Israel said it struck the leadership compound in Tehran and sent soldiers into southern Lebanon. The US military carried out strikes against more than 1,700 targets in Iran, targeting Iranian Navy ships, submarines, and anti-ship missile sites along with command and control centers.
Japanese Bond Yields
Shorter-dated Japanese government bond (JGB) yields fell, as investors scaled back expectations for an early rate hike by the Bank of Japan amid the US-Israel-Iran war. The two-year yield decreased 1.5 basis points (bps) to 1.23%, while the five-year yield fell 2.5 bps to 1.565%. The benchmark 10-year JGB yield fell 1 basis point (bp) to 2.115%.
India IIP Data
India’s industrial production growth decelerated to a three-month low of 4.8% in January. The factory output, measured in terms of the Index of Industrial Production (IIP), expanded by 5.2% in January 2025.
US Treasury Yields
US Treasury yields rose for a second straight session on Tuesday but eased from earlier highs. The yield on the benchmark US 10-year Treasury note rose 0.4 basis point to 4.056% after climbing to a 2-1/2-week high of 4.117% on the day, Reuters reported. The yield on the 30-year bond added 0.3 basis point at 4.702%. The two-year US Treasury yield advanced 1.3 basis points to 3.5%.
dollars
The dollar rallied to a three-month high. The US dollar index, which measures the greenback’s strength against a basket of six currencies, was steady at 99.103, its strongest since November 28. Against the yen, the dollar was down 0.1% at 157.555 yen. Against the Chinese yuan, in offshore trade the dollar was down 0.1% at 6.9139 yuan, Reuters reported. The euro traded down 0.1% at $1.1604, and the British pound slipped 0.1% to $1.3340.
Gold Rate Today
Gold prices rose 1%, rebounding from a more than one-week low hit in the previous session. Spot gold price gained 1% to $5,138.46 per ounce, while US gold futures for April delivery added 0.5% to $5,147.10. Spot silver price rallied 1.4% to $83.27 per ounce, after falling more than 8% in the last session.
Crude Oil Prices
Crude oil prices rallied as the ongoing war in the Middle East raised fears of supply disruptions. Brent crude oil price surged 1.30% to $82.46 a barrel, while the US West Texas Intermediate (WTI) crude futures gained 1.10% to $75.37.
(With inputs from agencies)
