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

Asian equities posted a modest gain ahead of the Federal Reserve’s policy decision and marginal progress in US-China trade talks.

Indian benchmark indices Sensex and Nifty are likely to see a muted opening today, tracking cues from GIFT Nifty was trading around 24,823.50 a short while ago this morning.

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

Benchmark indices snapped a three-day losing streak to end higher, with Nifty 50 closing above 24,800 on the back of buying in heavyweights and across the sectors.

After a lower opening, Nifty 50 briefly slipped below 24,600, but mid-session buying helped regain losses to end near the day's high. At close, the Sensex was up 446.93 points or 0.55 percent at 81,337.95, and the Nifty was up 140.20 points or 0.57 percent at 24,821.10. The BSE midcap index rose 0.8 percent and smallcap index closed a percent higher.

Here is how financial markets across the globe fared overnight:

GIFT Nifty (Down)

The GIFT Nifty is trading marginally lower at around 24,823.50, indicating a muted start for the day.

Asian Equities (Gain)

Asian equities posted a modest gain ahead of the Federal Reserve’s policy decision and marginal progress in US-China trade talks.

US Equities (Down)

US stocks closed lower on Tuesday as the S&P 500 and Nasdaq retreated from record highs after some disappointing corporate earnings, while investors awaited a Federal Reserve policy statement.

The Dow Jones Industrial Average fell 204.57 points, or 0.46%, to 44,632.99, the S&P 500 lost 18.91 points, or 0.30%, to 6,370.86 and the Nasdaq Composite lost 80.29 points, or 0.38%, to 21,098.29.

US Bond Yield (Up)

The yield on 10-year Treasury up marginally at 4.32 percent, while 2-year Treasury yield was unchanged at the early trade.

Dollar Index (Up)

The dollar index at 98.77, hovering near a one-month high. The index is set to record its first month of gains this year.

Asian currencies (Gain)

Among Asian currencies, except Indonesian Rupiah, all other were trading higher in the early trade on Wednesday, led by South Korean Won, Japanese Yen, Philippines Peso

Crude (Up)

Oil held its biggest gain in six weeks after President Donald Trump’s reiteration that further levies on Russia remained on the table without a Ukraine truce.

Gold (Up)

Gold held a small advance ahead of the Federal Reserve’s interest-rate decision later Wednesday, with officials set to provide crucial clues on the monetary policy outlook.

Fund Flow Action

The selling from Foreign institutional investors (FIIs) sold equities worth Rs 4636 crore on July 29, while Domestic institutional investors (DIIs) bought equities worth Rs 6,146 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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