Indian stock markets are likely to open on a weak note on March 7, with GIFT Nifty indicating a negative start.

On March 6, the benchmark indices ended on a high note, extending their winning streak. The Sensex soared 610 points or 0.83% to close at 74,340, while the Nifty climbed 207 points or 0.93% to settle above 22,500.

Key global and domestic cues to know on March 7, 2025

Asian Markets

Asian markets opened lower on Friday, tracking Wall Street losses. Investor sentiment remained weak despite U.S. President Donald Trump’s tariff concessions. Japan’s Nikkei 225 fell 2.01%, while the Topix dropped 1.8%. South Korea’s Kospi lost 1.15%, and the Kosdaq slipped 0.57%. Australia’s S&P/ASX 200 declined 1.28%. Trade worries and economic uncertainties kept investors cautious.

Trump halts tariffs on Canada and Mexico

US President Donald Trump has temporarily paused tariffs on Canadian and Mexican imports. The decision comes after market concerns and growing trade tensions. The tariffs, which could go up to 25%, were imposed earlier in the week under the North American trade agreement.

US markets

Wall Street extended its losses on Thursday as investor concerns overshadowed the White House’s latest tariff concessions. The Dow Jones fell 0.99% to 42,579 after briefly plunging over 600 points. The S&P 500 slipped 1.78% to 5,738, while the Nasdaq Composite tumbled 2.61% to 18,069.

US tariff row – US Commerce Secretary Lutnick on Tariffs

US Commerce Secretary Lutnick expects reciprocal tariff rates to start high on April 2 before gradually decreasing. He emphasised that new US manufacturing jobs would be high-paying. Lutnick also estimated off the cuff that over 50% of products from Canada and Mexico comply with USMCA regulations.

US dollar

The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, was up 0.12% at 104.19 on Friday morning. The index evaluates the strength or weakness of the US dollar in comparison to major currencies. The basket contains currencies such as the British Pound, Euro, Swedish Krona, Japanese Yen, Swiss Franc, etc. The rupee closed at 87.11 to the dollar on March 6.

Crude oil

Oil prices fluctuated on Thursday but ended little changed. Market concerns over US tariffs on Canada and China kept pressure on prices. OPEC plans to increase output also added to the uncertainty. Brent crude rose  0.2%, to $69.46 per barrel. WTI gained 0.1% to settle at $66.36 per barrel.

FII, DII data

Foreign investors sold shares worth Rs 2,377 crore on March 6, continuing their selling streak. Meanwhile, domestic institutional investors stepped in, buying stocks worth Rs 1,617 crore.

Gold rate today

Gold prices in India today stand with 24 carat gold priced at Rs 8,748 per gram, while 22 carat gold is available at Rs 8,019 per gram. Those looking for 18 carat gold will find it at Rs 6,561 per gram. For buyers interested in larger quantities, 10 grams of 24carat gold price today is Rs 87,480, 22 carat is Rs 80,190, and 18 carat is priced at Rs 65,610.