GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 are implied to open on a higher note on Tuesday. Also, Asian markets opened majorly on a higher note in early trade hours as investors looked past the tariff threats from Donald Trump.

Previously, on Monday, the NSE Nifty 50 finished the session 178.35 points or 0.76% lower at 23,381.60, while the BSE Sensex lost 548.39 points or 0.70% to close at 77,311.80.

Trump imposes 25% tariff on steel and aluminium

Its official now! US President Donald Trump has raised tariff on steel and aluminium imports to US quite substantially at 25% from 10%. It specifies that this without ‘exception and exemption’. Thus far, the Indian Govt has downplayed the move. As per reports by Financial Express.com, officials have said that the move may not have adverse impact on India. India’s steel and aluminium exports to US does not comprise a huge amount. However, one needs to wait and watch to calibrate the exact impact. The Metal Index saw deep cuts in trade yesterday in anticipation.

Asia markets traded on a higher note tracking overnight gains in US markets. Japan’s Nikkei 225 was closed on account of a holiday. The Asia Dow was trading 0.33% higher at 3,831.99. South Korea’s Kospi rose 0.66% in early trade hours. The Shanghai Composite was trading flat at 3,322.17. Hong Kong’s key index Hang Seng was trading 0.63% higher at 21,656.82.

The US stock markets closed Monday on a higher note as investors shrugged off tariff worries from US President Donald Trump. The S&P 500 climbed 0.67% to finish at 6,066.44. Nasdaq Composite advanced 0.98% to end at 19,714.27. The Dow Jones Industrial Average rose 167.01 points, or 0.38%, to 44,470.41. 

The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, was up 0.06% at 108.38 on Tuesday 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 depreciated 0.06% to close at 87.48 to the dollar on February 10. 

The crude oil prices have edged higher. WTI crude prices were trading at $72.38 up by 0.09%, while Brent crude prices were trading at $75.97 up by 0.13%, on Tuesday morning. 

Foreign institutional investors (FII) were the net sellers of shares net worth Rs 1,515.52 crore. Meanwhile, the Domestic institutional investors (DII) were the net buyers of shares worth Rs 2,463.72 crore on February 10, 2024, according to the provisional data available on the NSE.

The gold rate today has climbed to an all-time high level. The 24-carat gold price today was Rs 86,000 per 10 grams. The cost of gold today surged past the Rs 86,000 mark, rising 2.5% in a week. On Monday, the price of gold was Rs 85,020 per 10 grams. The gold price has jumped 9.3% in the last one month. The 22 kt gold rate today is Rs 77,935 per 10 grams. 

Vodafone Idea, Lupin, AstraZeneca Pharma, Awfis Space Solutions, Berger Paints, Bajaj Healthcare, BLS International Services, Bayer CropScience, Birlasoft, Cello World, Campus Activewear, EIH, IRCON International, HEG, Indian Railway Catering and Tourism Corporation, NBCC, Shree Renuka Sugars, Mamata Machinery, Keystone Realtors, Tata Investment Corporation, SAIL, Tolins Tyres, and many other companies will announce their quarterly earnings for the third quarter of the current financial year on February 11.