Indian Markets Expected to Open Lower Amid Global Concerns
On February 24, Indian stock markets are anticipated to open on a down note due to a decline in U.S. markets. Investor confidence is shaken by ongoing uncertainties surrounding President Donald Trump’s tariff strategy and continuous worries about the impacts of artificial intelligence on jobs.
As of 7:53 a.m. IST, the Nifty futures traded at 25,600 points, suggesting a dip below the previous day’s closing of 25,713 points.
Asian markets reflected a similar sentiment with limited movement, while Wall Street experienced a downturn after Trump cautioned other nations against backing out of recently negotiated trade agreements. He mentioned the possibility of imposing significantly higher tariffs under different trade regulations following a Supreme Court ruling against emergency tariffs.
In addition, rising tensions between the U.S. and Iran have pushed oil prices closer to a seven-month peak, which could pose challenges for net importers like India.
Ponmudi R, CEO of Enrich Money, commented, “The market’s mood is cautious due to renewed uncertainties around tariffs and ongoing worries that AI could disrupt IT companies.” He predicts a subdued trading day, especially for export-oriented businesses affected by Trump’s statements.
Despite a rise in Indian equity markets on Monday following the U.S. Supreme Court’s ruling against Trump’s tariffs, fears regarding AI’s impact on the tech sector have held back gains. The IT sector, one of the major components of the market, fell 1.4%, bringing its year-to-date decline to 16.7%. Jefferies downgraded six local software firms, including TCS and Infosys, due to concerns over potential long-term changes driven by AI innovations.
In trading activity, foreign portfolio investors resumed buying, purchasing shares worth 34.84 billion rupees on Monday. Conversely, domestic investors sold stocks valued at 12.92 billion rupees, as per preliminary data from the NSE.
Stocks to Keep an Eye On:
- Lupin has secured approval from the European Commission for its Ranibizumab biosimilar, aimed at treating retinal conditions.
- Waaree Energies has signed a deal for a 2.5 MW electrolyzer with ZFI and received another order for 500 MW solar panel modules.
- Bharti Airtel announced plans to invest 200 billion rupees (approximately $2.2 billion) in its finance division over the coming years to enhance digital lending services.
- Patel Engineering‘s joint venture won the bidding for a 1.33 billion rupee irrigation project in Maharashtra, with shares valued at 680 million rupees.
Stay tuned for further updates as the day unfolds in the markets.
