By Global financial markets presented a mixed picture on February 18th, with European futures reaching record highs while U.S. and Asian markets faced challenges. Defense stocks drove European gains, while foreign institutional selling and trade concerns weighed on other regions.
U.S. stock futures indicated a cautious start, with investors closely watching developments in the Russia-Ukraine conflict. Analysts warned that market recovery could remain subdued unless key resistance levels are broken.
In Asia, markets opened lower, with Indian indices like the BSE Sensex and Nifty50 declining after an eight-day losing streak. The Sensex dropped over 350 points, trading below 75,900, while the Nifty hovered around 22,850.
European markets, however, surged as defense stocks rallied on expectations of increased military spending. The Stoxx Europe 600 index rose significantly, reflecting investor optimism about bolstered defense capabilities.
The Indian rupee faced pressure due to dips in Asian currencies and the maturity of NDF positions. Bitcoin remained stable at 96,000, while gold prices edged higher as investors sought safe−haven assets. Oil prices showed volatility, with West Texas Intermediate crude trading around 70 per barrel.