GIFT Nifty:

GIFT Nifty March 2026 futures were down 167.00 points, suggesting a gap down opening for the Nifty 50 today.

Institutional Flows:

Foreign portfolio investors (FPIs) sold shares worth Rs 3,295.64 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 8,593.87 crore in the Indian equity market on 02 March 2026, provisional data showed.

The FIIs have sold shares worth Rs 6,640.78 crore in the cash market in February. This follows their cash sales of Rs 41,435.22 crore in January 2026 and Rs 34,349.62 crore in December.

Global Markets:

Asian market traded lower as South Korea led the losses on Wednesday as the war in the Middle East continued unabated.

South Korea's Kospi plunged 8% Wednesday, on track for its worst day since August 2024, and extending a steep selloff from the previous session. The Korea Exchange temporarily halted trading for the Kospi index on Wednesday. A circuit breaker was also activated on the Kosdaq, which also fell by over 8%.

A senior commander from Iran's Revolutionary Guard said on Monday that the critical artery had been shut and warned that any vessel attempting to transit the waterway would be targeted, according to Iranian media.

U.S. President Donald Trump reportedly said Tuesday afternoon that the U.S. Navy will escort tankers through the Strait of Hormuz, if necessary.

Investors in the region will also be watching an annual parliamentary meeting by China's policymakers that kicks off later in the day.

The gathering, dubbed the 'Two Sessions,' consists of a consultative congress that will start later in the day, and a National People's Congress due to open Thursday. Chinese Premier Li Qiang is set to announce a series of economic targets at the NPC, which had largely been decided at a December meeting.

Meanwhile, China's factory activity faltered in February as manufacturers paused production and cargo shipments to celebrate an extended holiday, an official survey showed on Wednesday.

The official manufacturing purchasing managers index fell to 49 in February, according to the National Bureau of Statistics, missing the widely reported forecast of 49.1.

Overnight in the U.S., socks had another wild session as concerns around a prolonged U.S.-Iran conflict rattled markets.

The Dow Jones Industrial Average lost 403.51 points, or 0.83%, and ended at 48,501.27. The S&P 500 slipped 0.94% to close at 6,816.63, while the Nasdaq Composite shed 1.02% to settle at 22,516.69.

Domestic Market:

The key equity benchmarks closed sharply lower on Monday as investors adopted a cautious stance amid weak global cues. Sentiment remained under pressure due to escalating geopolitical tensions following the US-Israel attacks on Iran, which dampened risk appetite.

From a market perspective, the primary concern remains the energy risk arising from the sharp surge in crude oil prices. Market participants also tracked movements in metal prices for further direction. The Nifty slipped below the 24,900 mark, weighed down by losses in auto, consumer durable and energy stocks.

The S&P BSE Sensex tanked 1,048.34 points or 1.29% to 80,238.85. The Nifty 50 index dropped 312.95 points or 1.24% to 24,865.70.

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