Markets are moving cautiously ahead of key geopolitical and trade developments. Even before the start of the US–Iran talks in Geneva, Iran began naval drills in the Strait of Hormuz, with US aircraft carriers positioned nearby. Rising tensions pushed crude oil prices higher, while gold and silver retreated.
Concerns surrounding artificial intelligence have not faded. From heavy investments in data centre construction to uncertainty over demand for information technology services, sentiment remains fragile. Software and technology stocks declined in Asian trade today and had ended lower across European markets yesterday.
The fragile security situation in West Asia has supported crude prices, while safe-haven gold has turned volatile.
Gold slipped from above $5,000 per ounce over the weekend to close at $4,993.90, down 1 percent.
It fell further to $4,958 this morning.
Silver dropped 2 percent to $76.79 per ounce.
In Kerala, 22-carat gold fell ₹960 to ₹1,14,720 per sovereign.
On the Multi Commodity Exchange, 24-carat gold closed at ₹1,54,897 per 10 grams; silver ended at ₹2,40,201 per kg.
ANZ expects gold could touch $5,800 in the April–June quarter if the US Federal Reserve cuts rates at least twice this year.
Concerns persist over artificial intelligence-led disruptions.
Heavy investments in data centres and uncertainty over IT services demand are under scrutiny.
Software and technology stocks declined in Asian trade today and had ended lower across Europe on Monday.
Gift Nifty closed at 25,664.50 on Monday night.
It slipped to 25,624 this morning.
The trend indicates a likely weak start for Indian equities.
After nearly 2 percent losses over two sessions last week, Indian equities recovered about 1 percent on Monday.
Key indices
Sensex: up 650.39 points (0.79 percent) at 83,277.15
Nifty 50: up 211.65 points (0.83 percent) at 25,682.75
Bank Nifty: up 762.45 points (1.27 percent) at 60,949.10
Nifty MidCap 100: up 0.48 percent at 59,723.00
Nifty SmallCap 100: up 0.11 percent at 17,050.90
Market breadth
BSE: 1,747 gainers vs 2,565 losers
NSE: 1,336 gainers vs 1,824 losers
56 stocks hit 52-week highs; 165 touched 52-week lows
Restrictions on funding to brokers weighed on capital market and brokerage stocks.
Institutional flows
Foreign portfolio investors sold ₹972.13 crore in the cash market.
Domestic institutional investors bought ₹1,666.98 crore.
Technical levels for Nifty
Immediate support: 25,450 and 25,380
Resistance: 25,710 and 25,790
Only a decisive move above 25,750 could open the path towards 26,000.
Merchandise exports grew just 0.8 percent in January.
Imports surged 19.1 percent.
Trade deficit widened to $34.60 billion.
Gold imports jumped more than fourfold; silver imports rose 2.3 times.
Exports to the US fell 22 percent, while imports from the US rose 23.7 percent.
An Indian delegation will travel to Washington this week to finalise an interim India–US trade agreement. If concluded, US tariffs on Indian goods could be reduced to 18 percent.
Commerce Secretary Rajesh Agarwal said India could achieve total exports of $860 billion this financial year, including $450 billion in goods and $410 billion in services.
Cochin Shipyard emerged lowest bidder for a ₹5,000 crore tender to build five advanced survey vessels for the Indian Navy.
Embassy Developments secured approval for its luxury residential project, Embassy Serenity, in Alibaug.
Delhivery will deploy 150 electric vehicles across Hyderabad, Bengaluru and the North East.
Texmaco Rail & Engineering won a ₹219.18 crore signalling contract from Mumbai Railway Vikas Corporation.
US markets
US markets were closed on Monday.
Futures were marginally lower this morning:
Dow Jones futures down 0.05 percent
S&P 500 futures off 0.02 percent
Nasdaq futures down 0.14 percent
Europe
Markets closed mixed; Germany’s DAX underperformed.
US assurances at the Munich Security Conference offered limited comfort.
Asia
Japan’s Nikkei declined around 0.5 percent.
Chinese markets remain shut for the Lunar New Year holiday until February 23.
South Korea, Hong Kong, Singapore and Taiwan markets are closed today.
Dollar index rose to 97.10 and edged up to 97.16 this morning.
Euro slipped to $1.1843; pound to $1.3618.
US 10-year Treasury yield fell to 4.044 percent on rate-cut expectations.
Rupee
Rupee weakened by 10 paise to close at 90.74 per dollar.
In early trade, the dollar was quoted at ₹90.78.
Bitcoin moved above $68,900.
Ether traded above $2,000.
Solana remained above $87.
Sensex: 83,277.15 (+0.79 percent)
Nifty 50: 25,682.75 (+0.83 percent)
Bank Nifty: 60,949.10 (+1.27 percent)
Nifty MidCap 100: 59,723.00 (+0.48 percent)
Nifty SmallCap 100: 17,050.90 (+0.11 percent)
Dow Jones: 49,500.93 (0.00 percent)
S&P 500: 6,836.17 (0.00 percent)
Nasdaq: 22,546.67 (0.00 percent)
Dollar: ₹90.74 (+₹0.10)
Gold (ounce): $4,993.90 (−$49.30)
Gold (sovereign, Kerala): ₹1,14,720 (−₹960)
Brent crude: $68.95 (+$0.90)