The Equity Benchmark Index for Monday, February 10th is expected to open as shown in the Gift Nifty Index, following the Global Queue.
Gift Nifty was trading 0.10% lower at 23,560 levels during morning trading.
On Friday, the S&P BSE Sensex finished with 77,860.19, with 197.97 points (0.25%) and the NSE’s NIFTY50 index finished with 23,559.95 and 43.40 points (0.18%).
This was followed by reporate cuts by the Reserve Bank of India (RBI) on Friday. RBI has decided to reduce its repository rate to 25 basis points (BPS) to 6.25% earlier than 6.5%.
This is what happened in the global market all weekend
US Market
The US index fell on Friday as investors tackled fresh tariff threats and rising expectations of inflation from the Trump administration.
The Dow Jones industrial average fell from 444.23 points (0.99%) to 44,303.40, while the S&P 500 dropped from 57.58 points (0.95%) to 6,025.99. NASDAQ Composite closed 268.59 points (1.36%) at 19,523.40.
Meanwhile, the market also responded to a decline in consumer sentiment. The survey found that Americans expect inflation to surge to 4.3% next year, rising points in full from the previous month, increasing investor concern.
Asian market
Asian markets were trading on Monday, tracking a decline in US stock futures ahead of key economic data and potential for more tariffs. MSCI’s widest index of Asia-Pacific stocks outside of Japan eased 0.3%.
Japan’s benchmark Nikkei 225 fell 0.10%, while Korea’s Cospi rose 0.15%. Hong Kong’s Hangsen index rose 1.39%. China’s Shanghai composite is trading at 3316.12, an increase of 0.38%.
More tariffs from Trump
US President Donald Trump said Monday that he would announce 25% tariffs imposed on all steel and aluminum imports, including Canada and Mexico, as well as other import duties.
“Steel coming into the US will have 25% tariffs,” he said Sunday.
Trump has also reaffirmed that he will announce “mutual tariffs,” “probably Tuesday or Wednesday.” This means that the United States imposes an import obligation on a product if another country imposes obligations on US goods.
“If they’re charging us 130% and we’re not charging them anything, it’s not going to stay that way,” Trump said.
Non-farm salaries in the United States
U.S. employment growth has slowed more than expected in January after strong profits over the past two months. Non-farm salaries increased 143,000 jobs after rising by 307,000 in December, which rose in nearly two years by 307,000 people. Employment benefits moderation followed a surge in additional employment of 261,000 in November.
US inflation estimates
US households have skyrocketed from 3.3% last month to 4.3% inflation the following year (highest since November 2023). Over the next five years, they ran inflation from 3.2% in January to 3.3%, the highest since June 2008.
(Includes input from Reuters)
