Indian benchmark indices Sensex and Nifty are likely to see a flat start today, tracking cues from GIFT Nifty trading around 25,584.50 a short while ago this morning.
Track the latest updates on GIFT Nifty right here on Moneycontrol.
The benchmark equity indices bounced back from early losses to end higher on Tuesday, supported by trade deal optimism, firm cues from Asian markets, and fresh foreign fund inflows.
After moving in a narrow range for most of the session, the Sensex rose by 270.01 points or 0.32 percent to close at 83,712.51. The Nifty climbed 61.20 points or 0.24 percent to settle at 25,522.50, after a muted trading session.
Here is how financial markets across the globe fared overnight:
GIFT Nifty (Flat)
The GIFT Nifty is trading with marginal gains at around 25,584.50, indicating a flat start for the day.
Asian Equities (Mixed)
Asian shares opened cautiously as investors held back from taking risky bets after President Donald Trump ruled out extending his August deadline. Copper futures fell on Trump’s tariff threat.
US Equities (Flat)
The S&P 500 ended Tuesday's choppy session slightly lower as investors waited for clarity on U.S. trade policy after President Donald Trump's latest tariff threats dampened hopes around talks with some trade partners.
The Dow Jones Industrial Average fell 165.60 points, or 0.37%, to 44,240.76, the S&P 500 lost 4.46 points, or 0.07%, to 6,225.52 and the Nasdaq Composite gained 5.95 points, or 0.03%, to 20,418.46.
US Bond Yield (Flat)
The yields on the 10-year Treasury and 2-year Treasury yields were trading with marginal gains in the early Wednesday trade at 4.4 percent and 3.89 percent respectively.
Dollar Index (Up)
The dollar rose for a third day against the yen on Wednesday as U.S. President Donald Trump pledged more trade-related proclamations after announcing 25% tariffs on Japan and other trade partners.
Asian currencies (Down)
Among Asian currencies, except the Indonesian Rupiah, all other currencies were trading lower. However, on a year-to-date basis, the Taiwan Dollar rallied 12 percent, followed bythe South Korean Won, Japanese Yen, Singapore Dollar, Malaysian Ringgit, and Thai Baht.
Crude (Down)
Oil prices edged slightly lower on Wednesday after rising to two-week highs in the previous session, as investors were watching new developments on U.S. tariffs and trying to gauge their impact.
Gold (Flat)
Gold held a decline after President Donald Trump said the new August deadline for the start of so-called “reciprocal” tariffs won’t be delayed, with nations expected to use the extended window to continue negotiating with the US.
Fund Flow Action
The Foreign institutional investors (FIIs) sold equities worth Rs 26 crore on July 8, while Domestic institutional investors (DIIs) extended their buying on the second day as they bought equities worth Rs 1366 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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