Global Market Weakness Signals Gap-Down Opening For Sensex And Nifty

Indian equity benchmarks may open lower on March 9 as GIFT Nifty traded around 23,844 in early indications, pointing to a weak start for the Sensex and Nifty, according to exchange data.

The cautious outlook follows a sharp decline in domestic markets in the previous session. On March 6, the BSE Sensex fell 1,097 points, or 1.37%, to close at 78,918.90, while the NSE Nifty 50 declined 315.45 points, or 1.27%, to settle at 24,450.45, according to data from the National Stock Exchange (NSE).

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Selling pressure during the session was visible across multiple sectors, particularly financial and real estate stocks.

Global Markets Under Pressure

Asian equity markets declined in early trading on Monday, tracking weakness across global markets as crude oil prices surged.

South Korea’s Kospi index dropped nearly 8%, while Japan’s Nikkei 225 fell 6.4%, slipping below the 52,000 level for the first time since February 6. Japan’s broader Topix index also declined about 5%, according to Reuters.

In the United States, Wall Street’s three major indices closed lower on Friday.

The Dow Jones Industrial Average fell 0.95% to close at 47,501.55. The S&P 500 declined 1.33% to 6,740, marking its worst weekly performance since mid-October, while the Nasdaq Composite dropped 1.59% to close at 22,387.68.

According to Reuters, the Dow recorded its steepest weekly percentage decline since early April 2025.

Crude oil costs more than $100 a barrel

Reuters says that crude oil prices rose above $100 per barrel for the first time since 2022 because tensions in the Middle East are rising and there are worries about disruptions to global energy supply routes.

The rise in oil prices contributed to declines in global equities and government bonds as investors moved toward safer assets.

The U.S. dollar index strengthened and reached a three-month high against the euro during early trading on Monday, Reuters reported.

Bond Yields And Currency Movements

U.S. Treasury yields also moved higher in global markets. The yield on the 10-year U.S. Treasury rose by more than four basis points to 4.18%, while the yield on the two-year Treasury increased nearly four basis points to 3.71%, according to Reuters.

Most Asian currencies traded lower in early trading on Monday. According to Reuters, the Thai baht recorded the largest decline on a month-to-date basis among regional currencies, followed by the South Korean won, Singapore dollar, Japanese yen and Philippine peso.

Precious metals also declined in early trade. Gold prices fell about 2%, while silver declined around 4.5%, Reuters reported.

What Institutional Investors Are Doing

On March 6, Foreign Institutional Investors (FIIs) kept selling off their Indian stocks. FIIs sold shares worth more than ₹6,000 crore during the session, according to NSE data. This was the sixth day in a row that they sold more than they bought.

On the same day, however, Domestic Institutional Investors (DIIs) bought stocks worth more than ₹6,971 crore, which helped to make up for some of the money that foreign investors took out.

At the beginning of the trading session, global market movements, commodity prices, and institutional flows are still important signs of how people feel about the domestic market.