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

Market Today

Indian benchmark indices Sensex and Nifty are likely to see a flat start on June 30, tracking cues from GIFT Nifty trading around 25,766 a short while ago this morning.

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

Benchmark indices ended in the green for a fourth straight session on June 27, with Nifty 50 managing to touch a high of 25,650, powered by broad-based buying on hopes of extension of Trump tariff deadline and the possibility of a soon-than-expected US Fed rate cut.

The Nifty Bank index hit another record high in the session to end above 57,400 for the first time.

At close, the Sensex was up 303.03 points or 0.36 percent at 84,058.90, and the Nifty was up 88.80 points or 0.35 percent at 25,637.80. BSE Midcap index rose 0.4 percent and smallcap index gained 0.5 percent.

For the week, BSE Sensex and Nifty added 2 percent each.

Here is how financial markets across the globe fared overnight:

GIFT Nifty (Flat)

The GIFT Nifty is trading marginally lower at around 25,766, indicating a flat start for the day.

Asian Equities (Gain)

Asia shares firmed on Monday as seemingly unquenchable demand for technology companies lifted S&P 500 futures to another all-time peak, while the dollar dipped on concerns U.S. jobs data will show enough weakness to justify larger rate cuts.

US Equities (Gain)

Wall Street extended its rally on Friday, sending the S&P 500 and Nasdaq to all-time closing highs as hopes for a trade deal fueled investor risk appetite and economic data helped solidify expectations for rate cuts from the U.S. Federal Reserve.

The Dow Jones Industrial Average rose 432.43 points, or 1%, to 43,819.27, the S&P 500 gained 32.05 points, or 0.52%, to 6,173.07, and the Nasdaq Composite gained 105.55 points, or 0.52%, to 20,273.46.

US Bond Yield (Down)

The yields on 10-year and 2-year Treasuries were trading lower at 4.27 percent and 3.73 percent, respectively.

Dollar Index (Down)

The dollar wallowed near its lowest in nearly four years against the euro on Monday as market optimism over U.S. trade deals bolstered bets for earlier Federal Reserve interest rate cuts.

Asian currencies (Mixed)

Except Thai Baht, Taiwan Dollar, China Renminbi, all other Asian currencies were trading higher in the early Monday trade. However, on a year-to-date basis, except the Indonesian Rupiah, all other currencies rose between 1-12 percent.

Crude (Down)

Oil prices fell 1% on Monday as an easing of geopolitical risks in the Middle East and the prospect of another OPEC+ output hike in August boosted the supply outlook.

Gold (Down)

Gold edged lower after two consecutive weekly declines, with demand impeded by a risk-on mood as the White House aims to finalize trade deals with several nations ahead of a July 9 deadline.

Fund Flow Action

The Foreign institutional investors (FIIs) continued their buying on the second day as they bought equities worth Rs 1,397 crore on June 27, while Domestic institutional investors (DIIs) sold equities worth Rs 588 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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