Indian benchmark indices Sensex and Nifty are set to open lower today, Friday, August 8, tracking weak cues, with GIFT Nifty hovering around 24,653 earlier this morning.
Track the latest updates on GIFT Nifty right here on Moneycontrol.
Final hour buying helped the Indian indices to erase all the intraday losses, as the indices remained under pressure for most part of the session after US President Donald Trump imposed additional 25% tariff on India over Russian oil imports and also indicated imposing 100% tariffs on imported semiconductors.
At close, the Sensex was up 79.27 points or 0.10 percent at 80,623.26, and the Nifty was up 21.95 points or 0.09 percent at 24,596.15. BSE Midcap index up 0.3 percent and smallcap index ended on flat note.
Here is how financial markets across the globe fared overnight:
GIFT Nifty (Down)
The GIFT Nifty is trading lower at around 24,653, indicating a negative opening for the day.
Asian Equities (Gain)
Asian stocks edged up at the open Friday, poised for a fifth consecutive day of gains, as technology
shares lifted Japanese equities.
US Equities (Mixed)
Major Wall Street indexes were mixed on Thursday, with the Dow and S&P 500 ending lower, as European stocks closed at a one-week high on strong financial stocks and hopes of a Ukraine ceasefire.
The Dow Jones Industrial Average fell 0.51% to 43,968.64 and the S&P 500 declined 0.08% to 6,340.00 as shares of Eli Lilly dropped after data from its oral weight loss drug disappointed.
The Nasdaq Composite gained 0.35% to 21,242.70.
US Bond Yield (Flat)
The yield on 10-year Treasuries was little changed at 4.24 percent, while 10-year Treasuries yield was unchanged at 3.72 percent.
Dollar Index (Down)
The dollar slipped for a sixth consecutive session Friday, poised for its longest losing streak since March 2024.
Asian currencies (Mixed)
Asian currencies were trading mixed in the early trade on Friday, with Japanese Yen, Thai Baht, Taiwan Dollar, Singapore Dollar were trading with marginal losses, while Philippines Peso, Malaysian Ringgit, Indonesian Rupiah, South Korean Won were trading higher.
Crude (Flat)
Oil headed for the biggest weekly loss since June, as traders judged that US efforts to end to the war in Ukraine would not impact supplies, even as Washington imposed penalties on India for importing Moscow’s crude.
Gold (Down)
Gold was on track for its biggest weekly climb in a month as a slew of US tariffs came into effect and as President Donald Trump named a temporary Federal Reserve governor expected to echo his calls for lower interest rates
Fund Flow Action
The Foreign institutional investors (FIIs) sold equities nearly Rs 4,997 crore on August 7, while Domestic institutional investors (DIIs) bought equities worth Rs 10864 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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