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Business News/ Photos / Before Market Opens: 9 essential things to know at 9 am on February 26, 2024

Before Market Opens: 9 essential things to know at 9 am on February 26, 2024

Before Market Opens: Indian markets are likely to open lower on Monday following weakness in S&P500 and Nasdaq futures. Meanwhile, Asian peers were higher with Japan’s Nikkei hitting new highs. Gift Nifty was down 38 points, indicating a weak start. Let's take a look at key cues before the opening:

The US stock market ended mixed on Friday, while all three Wall Street benchmarks scored weekly gains led by artificial intelligence stocks. The Dow Jones Industrial Average gained 62.42 points, or 0.16%, to close at 39,131.53, while the S&P 500 rose 1.77 points, or 0.03%, to end at 5,088.8. The Nasdaq Composite settled 44.80 points, or 0.28%, lower at 15,996.82. For the week, the S&P 500 rallied 1.7%, the Dow gained 1.3% and the Nasdaq finished 1.4% higher.

1/9The US stock market ended mixed on Friday, while all three Wall Street benchmarks scored weekly gains led by artificial intelligence stocks. The Dow Jones Industrial Average gained 62.42 points, or 0.16%, to close at 39,131.53, while the S&P 500 rose 1.77 points, or 0.03%, to end at 5,088.8. The Nasdaq Composite settled 44.80 points, or 0.28%, lower at 15,996.82. For the week, the S&P 500 rallied 1.7%, the Dow gained 1.3% and the Nasdaq finished 1.4% higher.

Asian shares were taking a breather near seven-month highs on Monday as investors awaited inflation data from the United States, Japan and Europe that will help refine expectations for future rate moves. MSCI's broadest index of Asia-Pacific shares outside Japan was little changed, having climbed 1.7% last week to seven-month highs. The gains were thanks in large part to a rally in Chinese stocks, which have jumped almost 10% in as many sessions on hopes for more aggressive stimulus. Japan's Nikkei rose 0.5%, having climbed 1.6% last week to clear its previous record high as bulls look to test the 40,000 barrier. (iStock)

2/9Asian shares were taking a breather near seven-month highs on Monday as investors awaited inflation data from the United States, Japan and Europe that will help refine expectations for future rate moves. MSCI's broadest index of Asia-Pacific shares outside Japan was little changed, having climbed 1.7% last week to seven-month highs. The gains were thanks in large part to a rally in Chinese stocks, which have jumped almost 10% in as many sessions on hopes for more aggressive stimulus. Japan's Nikkei rose 0.5%, having climbed 1.6% last week to clear its previous record high as bulls look to test the 40,000 barrier. (iStock)

On Friday, the Indian stock market indices ended flat with a negative bias with Nifty 50 hitting a record high for the fifth consecutive session.The Sensex eased 15.44 points, or 0.02%, to close at 73,142.80, while the Nifty 50 ended 4.75 points, or 0.02%, lower at 22,212.70. (Pixabay)

3/9On Friday, the Indian stock market indices ended flat with a negative bias with Nifty 50 hitting a record high for the fifth consecutive session.The Sensex eased 15.44 points, or 0.02%, to close at 73,142.80, while the Nifty 50 ended 4.75 points, or 0.02%, lower at 22,212.70. (Pixabay)

At 8:15 am, the GIFT Nifty was trading 38 points or 0.16 percent lower at 22,239, indicating a negative opening for the Indian markets. 

4/9At 8:15 am, the GIFT Nifty was trading 38 points or 0.16 percent lower at 22,239, indicating a negative opening for the Indian markets. 

Crude oil prices steadied after the biggest drop in three weeks, with prices still trading in a narrow range. Brent oil traded 0.15% lower at $81.50 a barrel after declining by 2.5% on Friday, with US West Texas Intermediate down 0.18% at $76.35. (REUTERS)

5/9Crude oil prices steadied after the biggest drop in three weeks, with prices still trading in a narrow range. Brent oil traded 0.15% lower at $81.50 a barrel after declining by 2.5% on Friday, with US West Texas Intermediate down 0.18% at $76.35. (REUTERS)

Zee Entertainment Enterprises Ltd on Friday announced a three-member independent advisory committee to restore shareholders' confidence and it will be headed by Satish Chandra, retired judge of the Allahabad High Court. The committee will also have Uttam Agarwal and P V Ramana Murthy, independent Directors of the company. Taking cognizance of widespread circulation of misinformation, market rumours, and speculation that has led to formation of negative public opinion about the Company and consequent erosion of investor wealth, the Board of Directors of the Company has constituted an Independent Advisory Committee, said the firm.

6/9Zee Entertainment Enterprises Ltd on Friday announced a three-member independent advisory committee to restore shareholders' confidence and it will be headed by Satish Chandra, retired judge of the Allahabad High Court. The committee will also have Uttam Agarwal and P V Ramana Murthy, independent Directors of the company. Taking cognizance of widespread circulation of misinformation, market rumours, and speculation that has led to formation of negative public opinion about the Company and consequent erosion of investor wealth, the Board of Directors of the Company has constituted an Independent Advisory Committee, said the firm.

Foreign institutional investors (FIIs) net bought shares worth  <span class='webrupee'>₹</span>1,276.09 crore, while domestic institutional investors (DIIs) purchased  <span class='webrupee'>₹</span>176.68 crore worth of stocks on February 23, provisional data from the NSE showed.

7/9Foreign institutional investors (FIIs) net bought shares worth 1,276.09 crore, while domestic institutional investors (DIIs) purchased 176.68 crore worth of stocks on February 23, provisional data from the NSE showed.

The rupee consolidated in a narrow range and depreciated by 6 paise to close at 82.91 against the US dollar on Friday, tracking a muted trend in domestic equities. Forex traders said foreign fund inflows supported the rupee at lower levels and contained the downslide. At the interbank foreign exchange market, the local unit opened at 82.87 and finally settled at 82.91 (provisional) against the dollar, down by 6 paise from its previous close.

8/9The rupee consolidated in a narrow range and depreciated by 6 paise to close at 82.91 against the US dollar on Friday, tracking a muted trend in domestic equities. Forex traders said foreign fund inflows supported the rupee at lower levels and contained the downslide. At the interbank foreign exchange market, the local unit opened at 82.87 and finally settled at 82.91 (provisional) against the dollar, down by 6 paise from its previous close.

Gold prices inched down on Monday, pressured by a firmer dollar, while investors awaited further clues on the U.S. Federal Reserve's timing of this year's first interest rate cut. Spot gold was down 0.3% at $2,030.9 per ounce, as of 0100 GMT. U.S. gold futures edged 0.4% lower to $2,040.6 per ounce.

9/9Gold prices inched down on Monday, pressured by a firmer dollar, while investors awaited further clues on the U.S. Federal Reserve's timing of this year's first interest rate cut. Spot gold was down 0.3% at $2,030.9 per ounce, as of 0100 GMT. U.S. gold futures edged 0.4% lower to $2,040.6 per ounce.

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