Global markets presented mixed cues for investors on March 10, with GIFT Nifty indicating a positive start for Indian equities while Asian markets rallied and European indices traded lower.
The offshore index GIFT Nifty rose 72 points, or 0.30%, to 24,421.50, suggesting that domestic benchmarks such as the Nifty 50 could open in the green.
Asian markets witnessed strong buying momentum. Japan’s Nikkei 225 surged 3.66% to 54,657.24, emerging as one of the best-performing major indices. South Korea’s KOSPI rallied 6.07% to 5,570.47, while Hong Kong’s Hang Seng Index climbed 1.46% to 25,780, reflecting renewed investor optimism in regional equities.
However, European markets showed signs of weakness. The UK benchmark FTSE 100 slipped 0.34% to 10,249.52, while Germany’s DAX Index declined 0.77% and France’s CAC 40 fell 0.98%, indicating cautious sentiment among European investors.
In the U.S., the Dow Jones Industrial Average closed 0.50% higher at 47,761.79, although futures trading was slightly lower with Dow Jones Futures down 0.12%. The S&P 500 also edged 0.14% lower, reflecting mixed signals from Wall Street.
Meanwhile, trading activity in the U.S. market remained concentrated in major exchange-traded funds and technology stocks. The SPDR S&P 500 ETF Trust and Invesco QQQ Trust were among the most actively traded instruments by dollar volume.
Technology majors continued to attract investor attention. NVIDIA gained 2.71% to $182.65, while Tesla rose 0.49% to $398.68. Semiconductor company Micron Technology also recorded strong gains, climbing 5.13% amid renewed interest in chip stocks.
In the broader market, several small-cap stocks experienced sharp volatility. Cresud S.A.C.I.F. y A. surged more than 1,700%, while Talkspace plunged over 76%, highlighting the speculative nature of trading in certain counters.
Market experts noted that the combination of rising Asian markets and gains in GIFT Nifty could support Indian equities at the opening bell, although investors are likely to remain cautious amid mixed global signals and ongoing volatility in international markets.
