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Indian stock markets opened on a weak note on Friday, March 7, 2025, as global markets remained under pressure
Stock Market Updates
Sensex Today: Indian stock markets opened on a weak note on Friday, March 7, 2025, as global markets remained under pressure. The early decline in Indian equities was driven by growing concerns over US President Donald Trump’s tariffs, which are feared to slow down the US economy. Despite his decision to delay tariffs on some goods from Canada and Mexico under the United States-Mexico-Canada Agreement until April 2, investors remained uneasy, and this failed to calm market sentiment. In the early trading hours, the BSE Sensex was down by 281 points or 0.38%, trading at 74,059, while the Nifty50 was at 22,468, showing a decline of 77 points or 0.34%.
In the broader markets, the Nifty MidCap index fell by 0.41%, and the Nifty SmallCap index was slightly down by 0.07%. According to technical analysis, the Nifty index could face resistance around the 22,700 level, which corresponds to the 20-day exponential moving average (DEMA), while the 22,250-22,400 range is expected to act as support if the market continues to dip.
Global Cues
Meanwhile, global markets experienced significant losses. In Asia, Japan’s Nikkei declined by 1.5%, Australia’s ASX200 shed 1.4%, Hong Kong’s Hang Seng dropped 0.7%, South Korea’s Kospi slipped by 0.35%, and China’s Shanghai Composite was down 0.22%. Overnight, US markets also closed in the red, with the Nasdaq Composite plunging by 2.61%, entering ‘correction’ territory, while the Dow Jones Industrial Average fell 0.99%, and the S&P 500 ended 1.78% lower.
Looking ahead, investors will be closely watching economic data releases, including China’s combined trade data for January and February, the Eurozone’s Q4-CY24 GDP data, and US jobless claims and non-farm payroll data. These indicators are expected to provide further insights into global economic conditions, which could influence market sentiment in the coming days.
