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 firm opening on July 18, tracking cues from GIFT Nifty trading around 25,205.50 a short while ago this morning.

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

Benchmark indices snapped a two-day gaining streak, erasing most of the previous two-session gains on selling in the IT and banking names, tracking weakness in June quarter earnings.

At close, the Sensex was down 375.24 points or 0.45 percent at 82,259.24, and the Nifty was down 100.60 points or 0.40 percent at 25,111.45. The broader indices outperformed the main indices with midcap index finishing on flat note, while smallcap index added 0.25 percent.

Here is how financial markets across the globe fared overnight:

GIFT Nifty (Gains)

The GIFT Nifty is trading higher at around 25,205.50, indicating a positive start for the day.

Asian Equities (Up)

Asian stocks advanced as a global equity rally gained fresh vigor on strong economic data that eased concerns about the US economy. Taiwan Semiconductor Manufacturing Co. jumped after a bullish outlook.

US Equities (Up)

The S&P 500 stock index and the Nasdaq Composite both finished at record highs on Thursday, as investors embraced strong economic data and earnings reports that showed American consumers remained willing to spend.

The Nasdaq has ended at a record high in six of the previous seven sessions, and the S&P 500 has had six best finishes since June 27.

The Nasdaq Composite gained 153.78 points, or 0.74%, to 20,884.27, and the S&P 500 increased 33.66 points, or 0.54%, to 6,297.36. The Dow Jones Industrial Average also ended up, rising 229.71 points, or 0.52%, to 44,484.49.

US Bond Yield (Flat)

The yield on 10-year Treasuries and 2-year Treasuries were trading with litter change in the early trade on Friday.

Dollar Index (Down)

The dollar dipped as Federal Reserve Governor Christopher Waller said policymakers should cut interest rates this month to support a labor market that is showing signs of weakness.

Asian currencies (Gain)

Asian currencies were trading higher in the early Friday trade, with Taiwan Dollar leading the gainers followed by Malaysian Ringgit, Singapore Dollar, THai Baht, South Korean Won, Japanese Yen.

Crude (Up)

Oil prices were little changed on Friday after rising in the previous session as concerns drone attacks on northern Iraqi oil fields will cut supply vied with worries of potential demand declines amid uncertainty in U.S. tariff policy.

Gold (Down)

Gold traded flat on Friday and was headed for a weekly fall, weighed down by an overall stronger dollar and solid U.S. economic data, while platinum scaled its highest level since August 2014.

Fund Flow Action

The Foreign institutional investors (FIIs) remained net sellers on the second consecutive session on July 17 as they sold equities worth Rs 3,694 crore, while Domestic institutional investors (DIIs) extended their buying on ninth day as they bought equities worth Rs 2,820 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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