Saturday, March 07
Stock market today: Nifty50 and BSE Sensex, the equity benchmarks, crashed in trade on Friday amid weak global cues and the continued IT stocks selloff. While Nifty50 went below 25,600, BSE Sensex was down over 700 points.
Gold futures surged by Rs 1,044 to Rs 1,53,880 per 10 grams on Friday. This rise was fueled by traders establishing fresh positions in response to strong spot market demand. International gold futures also saw an increase, trading at USD 4,962 per ounce.
The upcoming H-1B season for FY 2027 presents unprecedented uncertainty for Indian professionals and US employers. A new wage-weighted selection system, a proposed $100,000 entry fee, and severe consular backlogs in India are forcing companies to rethink hiring strategies, potentially shifting focus to candidates already in the US.
US Congress is challenging President Trump's trade tariff powers, with a House vote against Canada tariffs and an impending Supreme Court ruling on emergency trade authority. This uncertainty, coupled with Trump's unpredictable demands, raises serious doubts about the stability of the new US-India trade framework, suggesting even signed deals might be temporary.
Stock market today: Nifty50 and BSE Sensex, the benchmark indices of the stock market, tanked in trade on Thursday, with IT stocks leading the decline. Technology stocks led the downturn, with Tech Mahindra, Infosys and Tata Consultancy Services (TCS) falling nearly 6 per cent each.
Stock market today: Equity benchmarks, Nifty and Sensex, tanked in trade on Thursday, driven by the crash in IT sector stocks and weakening global sentiment around reduced prospects of the US Federal Reserve cutting rates.
