US markets declined ahead of the Federal Reserve’s policy meeting the following week, with the S&P 500 closing at 5,126.86, down 0.44 percent. The poor performance of tech stocks amid inflation fears caused the Nasdaq to drop by almost a percent to 15,998.99 at 9:00 p.m. Additionally, the Dow Jones Industrial Average decreased by 0.27 percent to 38,801.32.
On March 15, when stock options, index futures, and stock index option contractions all expired simultaneously, the markets also saw “triple witching.” This takes place every year on the third Friday of March, June, September, and December. As was seen in the US markets today, triple witching is known to increase trade activity. At 22,091.00, the GIFT Nifty moved from flat to negative.
With a gain of 0.26 percent to 17,989.20, Germany’s DAX was almost at record high levels. While the FTSE traded flat to down at 7,739.26, the CAC was up 0.5 percent at 8,207.19.
The Nikkei ended the day 0.26 percent lower at 38,707.64, led by declines in firms tied to semi-conductors. Hang Seng lost 1.42 percent, closing at 16,720.89.
The Nifty was down 0.56 percent at 22,023.35 and the Sensex finished 0.62 percent lower at 72,743.43, reflecting negative trading activity on the Indian benchmarks as well.
While the net amount purchased by FPIs and FIIs was Rs 848.56 crore, DIIs sold Rs 682.26 crore. Brent dropped 0.27 percent as well, reaching 85.19.
