Stock Market Today: Indian benchmark indices are likely to open flat to lower on September 1, tracking GIFT Nifty, which was trading marginally down at around 24,206.50 in early trade.
The 30-share BSE Sensex dropped 307.24 points, or 0.40 per cent, to settle at 76,957.27. 20 on Monday, September 1. During the day, it tanked 513.19 points, or 0.66 per cent, to 76,751.32. Meanwhile, the 50-share NSE Nifty dropped 95.25 points, or 0.39 per cent, to end at 24,080.40.
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Asian Markets: Asian markets were trading on a mixed note in early trade on Tuesday.
US Markets: US stocks ended lower on Monday as Wall Street wrapped up a volatile month, with a war-driven surge in crude oil prices stoking inflation concerns and raising expectations of tighter monetary policy. The Dow Jones Industrial Average fell 374.09 points, or 0.70 per cent, to 53,185.90. The S&P 500 declined 25.62 points, or 0.33 per cent, to 7,686.14, while the Nasdaq Composite slipped 31.53 points, or 0.12 per cent, to 26,370.89.
Dollar: The dollar index edged lower against a basket of major currencies.
US Bond Yield: The benchmark 10-year US Treasury yield rose two basis points to 4.77 per cent, its highest level since January 2025. Meanwhile, the 10-year Japanese government bond yield climbed to 2.965 per cent after touching a three-decade high in the previous session.
Asian Currencies: Asian currencies traded mixed against the US dollar, with the Malaysian ringgit and Indonesian rupiah among the biggest decliners, while the Taiwan dollar and Chinese renminbi advanced. The ringgit fell 0.218 per cent, followed by the South Korean won, down 0.177 per cent and the Indonesian rupiah, which declined 0.164 per cent. The Singapore dollar eased 0.047 per cent, while the Thai baht and Japanese yen slipped 0.039 per cent and 0.019 per cent, respectively. On the other hand, the Taiwan dollar gained 0.19 per cent, the Chinese renminbi rose 0.146 per cent and the Philippine peso strengthened 0.136 per cent.
Crude: Oil prices rose for a second consecutive session as renewed hostilities between the US and Iran sparked concerns over prolonged disruptions to energy flows through the Strait of Hormuz. Brent crude traded around $91 a barrel after US forces struck an island in the Strait of Hormuz, prompting Iran to retaliate with attacks on the UAE and Jordan. The exchange marked the first direct hostilities between the two sides in about a month. West Texas Intermediate (WTI) climbed above $86 after surging 2.8 per cent on Monday, its biggest one-day gain in three weeks.
Gold: Gold prices steadied after falling for two consecutive sessions as renewed US-Iran hostilities raised concerns that higher energy costs could fuel inflation and put pressure on the Federal Reserve to raise interest rates.
Fund Flow Action: Foreign institutional investors (FIIs) stepped up selling on August 31, offloading nearly Rs 8,000 crore worth of equities. Meanwhile, domestic institutional investors (DIIs) continued to provide market support, purchasing equities worth Rs 4,588 crore during the session.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money-related decisions.)
