First Tick: Here are the top global cues for today’s trade

Market Today

Indian benchmark indices Sensex and Nifty 50 are likely to see a positive start on June 24, tracking cues from GIFT Nifty trading around 25,164 a short while ago this morning.

Track the latest updates on GIFT Nifty right here on Moneycontrol.

Benchmark indices erased early losses but still ended lower by over half a percent on June 23, as escalating geopolitical tensions in the middle-east weighed on equities and businesses dependent on crude oil after prices stayed above $78 per barrel over looming risk to the Strait of Hormuz, with Nifty 50 index ending below the 25,000 level.

After a gap-down start, the markets had extended the fall in the initial hours but staged a sharp recovery in metal stocks, as well as small and midcap indices. At close, the Sensex was down 511.38 points or 0.62 percent at 81,896.79, and the Nifty was down 140.50 points or 0.56 percent at 24,971.90. The broader indices outperformed the main indices with the BSE midcap index rising 0.2 percent and the smallcap index adding 0.6 percent.

Here is how financial markets across the globe fared overnight:

GIFT Nifty (Up)

The GIFT Nifty is trading higher at around 25,164, indicating a strong opening for the day.

Asian Equities (Gain)

Asian markets were trading higher on Tuesday after US President Donald Trump announced that Iran and Israel have agreed to a ceasefire.

US Equities (Up)

The  US markets ended with a nearly one percent gain on Monday.

US Bond Yield (Down)

Yields on 10-year Treasuries were down marginally at 4.34 percent, while 2-year Treasuries were down more than a percent at 3.85 percent in the early trade on Tuesday.

Dollar Index (Down)

The dollar fell on Tuesday while the Australian and New Zealand dollars rose after U.S. President Donald Trump announced a ceasefire between Israel and Iran, in news that sent investors cheering and sparked a risk rally across markets.

Asian currencies (Gain)

Among Asian currencies, except the Indonesian Rupiah and Thai Baht, all other currencies were trading higher in the early Tuesday trade, with the South Korean Won leading the gainers, followed by the Malaysian Ringgit, Singapore Dollar, Philippines Peso, Taiwan Dollar.

Crude (Slips)

Oil slumped after President Donald Trump announced Israel and Iran had agreed to a ceasefire, spurring optimism that the worst of the Middle East conflict is over.

Gold (Falls)

Gold retreated as haven demand ebbed after US President Donald Trump announced that Israel and Iran had agreed to a ceasefire that would start about midnight Monday in Washington.

Fund Flow Action

The Foreign institutional investors (FIIs) extended their buying on the fifth consecutive day on June 23 as they bought equities worth Rs 5,591 crore. On the other hand, Domestic institutional investors (DIIs) extended their selling on the second day, selling equities worth Rs 1,874 crore on the same day.

Hope you're all set for today's trade. We wish you a profitable day ahead.

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