Top Global Cues For February 23: U.S. Equities to Asian Markets

Global financial markets moved higher after the U.S. Supreme Court struck down President Donald Trump’s global tariff orders, easing concerns over trade disruptions. The ruling supported U.S. equities, while gold advanced amid uncertainty over future trade policy direction.

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The positive global cues are expected to set the tone for Indian markets, with GIFT Nifty trading around 25,748 in early deals, indicating a firm opening, according to market data.

In the previous session on February 20, the market staged a rebound after earlier losses. The Sensex closed at 82,814.71, up 316.57 points or 0.38%, while the Nifty settled at 25,571.25, higher by 116.90 points or 0.46%, supported by broad-based buying across sectors except IT stocks, as per exchange data.

U.S. Equities End Higher After Supreme Court Ruling

Wall Street ended higher on Friday after the U.S. Supreme Court struck down President Donald Trump’s global tariff orders. The S&P 500 rose 0.69% to 6,909.51 points, while the Nasdaq gained 0.90% to 22,886.07 points.

The Dow Jones Industrial Average advanced 0.47% to 49,625.97 points.

Reuters reported that gains were led by heavyweight technology stocks, including Alphabet and Amazon. Investors are also awaiting earnings from Nvidia later this week, which could test sentiment around the artificial intelligence trade.

Asian Markets And Currency Moves

Asian equity markets traded cautiously higher on Monday as investors sought clarity on U.S. trade policy developments. The dollar index slipped after the Supreme Court decision was viewed as supportive for global growth, though geopolitical risks in the Middle East limited sharper moves, Reuters reported.

Most Asian currencies in the currency markets strengthened during the early trade. The Japanese yen was on a gain, followed by the Malaysian ringgit, the Philippine peso, and the South Korean won. This was the exception, the Chinese renminbi, which traded in the low range of the dollar.

Bond Yields, Crude, And Gold

The U.S. Treasury yields shifted upwards, and the 10-year yield went up by almost 2 basis points to 4.08. The 2-year treasury yield rose by 2 basis points to 3.47, which represents rate expectations.

Oil prices edged lower after President Trump said he would raise U.S. tariffs on global imports, creating uncertainty around economic growth and fuel demand. In contrast, gold prices rose as uncertainty over trade deals negotiated with the U.S. unsettled markets following the court ruling.

Institutional Flow Activity

At the home front, foreign institutional investors (FIIs) sold offloaded equities to the tune of ₹934 crore on February 20 as per exchange data. Domestic institutional investors (DIIs), however, bought equities worth ₹2,637 crore on the same day, and this partially neutralised foreign outflows.

Indian markets are going to open strongly with an increase in GIFT Nifty levels and gains in the U.S. equities, with investors keeping watch on the global trade, currency trends, and institutional flows.