Markets Today: Trump on mkts; FII; Nasdaq; Nikkei; Balaji, NAPS Global IPOs

Stock Market Today: As of 6:33 AM, GIFT Nifty Futures were down 75 points at 22,545, hinting at a negative start.

Stock Markets Today, March 7, 2025: Benchmark indices, Nifty50 and Sensex, are likely to react to weak global cues on the last trading day of the week i.e. Friday.

 

As of 6:33 AM, GIFT Nifty Futures were down 75 points at 22,545, hinting at a negative start. 

 

In the previous session, Sensex closed 609.86 points, or 0.83 per cent, higher at 74,340.09. Similarly, the Nifty ended at 22,544.70, up by 207.40 points or 0.93 per cent. 

 

Trump’s view on markets

 

President Donald Trump, on Thursday, stated that his administration would not take stock market reactions into account when finalising its tariff policy. 

 

 

When asked if the decision to delay tariffs on certain products from Canada and Mexico for a month was influenced by the stock market, Trump responded that it had "nothing to do with the market." He stressed that, in the long run, the US would benefit from the current course of action.

 

“This is really about companies and countries that have taken advantage of our country, our beloved US. They’re not going to do that anymore. I believe that’s what impacts the market,” Trump explained.

 

The remarks came during an Oval Office event for signing executive orders. When later questioned again about the market downturn, Trump placed blame on "globalists," a term he had previously used to describe certain companies and nations.

 

Global cues

 

Asia-Pacific markets declined on Friday, reflecting the losses seen on Wall Street after Trump’s tariff concessions failed to reassure investors. Concerns were further fueled by US economic data that raised alarms about the potential negative impact of Trump’s policies on the economy.

 

The Fed’s Beige Book and the Institute for Supply Management’s (ISM) manufacturing report both highlighted growing fears about rising input costs due to the tariffs. 

 

Additionally, data from Challenger, Gray & Christmas revealed that layoff announcements surged to 2020 highs, largely driven by Trump and Elon Musk’s efforts to reduce the federal workforce.

 

In Asia, attention shifted to China’s trade data for January and February, as the country combines the two months' figures to account for the Lunar New Year holidays. Economists polled by Reuters expect export growth to slow to 5 per cent year-on-year (Y-o-Y), while import growth is forecast to remain steady at 1 per cent.

 

Last checked, Nikkei slipped 2.19 per cent, and the broader Topix index fell 1.6 per cent. 

Kospi declined 0.67 per cent, while ASX 200 was down 1.18 per cent.

 

On Wall Street overnight, Nasdaq tanked 2.61 per cent into correction territory (a 10 per cent drop from a recent high). The Dow Jones decreased 0.99 per cent, and the S&P 500 dropped 1.78 per cent.

 

Also, the European Central Bank (ECB) lowered the three key interest rates by 25 basis points, as expected, reducing the deposit facility rate to 2.50 per cent, the main refinancing rate to 2.65 per cent, and the marginal lending rate to 2.90 per cent. 

 

Moreover, ECB President Lagarde Speech will be eyed, coupled with US February non farm payrolls, unemployment rate, manufacturing payrolls data. 

 

Domestic cues

 

Economic Affairs Secretary Ajay Seth downplayed the link between India's stock market downturn and the long-term capital gains tax, stating that stock price movements are influenced by global factors. 

 

Also Read: CitiCorp resolves issue with Sebi; India's 1st index fund completes 25 yrs

 

Meanwhile, India’s mutual fund industry saw a record 34.8 million systematic investment plan (SIP) registrations in 2023, but nearly 48 per cent of these accounts were closed within two years. 

 

Alternative investment funds (AIFs) reached ₹13 trillion in commitments by December 2024, a 5 per cent quarterly growth. 

 

Also Read: RBI's fresh liquidity measures aimed at facilitating rate transmission

 

Other triggers

 

FII, DII

 

FIIs net sold shares worth Rs 2,377.32 crore, while DIIs net bought shares worth Rs 1,617.80 crore, on March 6.  Also Read: Foreign selling in Indian stocks persists in Feb, but financials see relief

 

IPO market

 

Balaji Phosphates IPO (SME) will list on the bourses, while NAPS Global IPO (SME) will see its allotment.

 

Also Read: Blackstone-Sattva JV file draft Papers for Rs 6,200 crore Reit IPO

 

Commodity market 

 

Gold prices slipped on Thursday, down 0.1 per cent to $2,915.83 an ounce, as rising US Treasury yields and profit-taking took hold. US gold futures closed nearly unchanged at $2,926.60.

 

Oil prices were little changed, with Brent settling at $69.46 per barrel, up 0.2 per cent, and US WTI crude rose 0.1 per cent to $66.36, amid concerns over tariffs and OPEC+ output plans.

 

Meanwhile, on Thursday, President Donald Trump signed an executive order establishing a Strategic Bitcoin Reserve, signaling a major shift in US digital asset policy. Last checked Bitcoin was down 4.67 per cent at $85,939.96.

 

Here's how analysts are assessing today's (March 7) trading session:

 

Rupak De, senior technical analyst at LKP Securities

 

In the short-term, the sentiment appears to favour the bulls. On the higher end, the index may move towards 23,750–23,800. The sentiment is likely to remain strong unless the Nifty falls below 22,300.

 

Ajit Mishra, SVP of research, Religare Broking 

 

We expect Nifty to face resistance around the 22,700 level (20 DEMA), while the 22,250-22,400 zone will act as support in case of any dip.