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

The GIFT Nifty is trading higher at around 24,634, indicating a strong start for the day.

Indian benchmark indices Sensex and Nifty are likely to open on a positive note on August 13, tracking GIFT Nifty, which was hovering around 24,634 earlier this morning.

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

Benchmark indices ended a volatile session with losses on August 12, with Nifty 50 closing below 24,500 at the day's low on selling pressure in realty, FMCG and financials.

Leading indices gave up early gains to trade rangebound for most part of the session, with a last-hour selling dragging the Nifty 50 to 24,465.65. However, buying in auto, IT, pharma, oil & gas, limited the losses.

At close, the Sensex was down 368.49 points or 0.46 percent at 80,235.59, and the Nifty was down 97.65 points or 0.40 percent at 24,487.40. The broader indices outperformed with BSE Midcap index down 0.2 percent and smallcap index closing flat.

Here is how financial markets across the globe fared overnight:

GIFT Nifty (Rises)

The GIFT Nifty is trading higher at around 24,634, indicating a strong start for the day.

Asian Equities (Up)

Asian markets were trading higher in the early trade, tracking gains on Wall Street after the latest U.S. inflation data raised expectations that the Federal Reserve could cut interest rates next month.

US Equities (Gain)

The S&P 500 and the Nasdaq scored record closing highs on Tuesday, as news that July inflation rose broadly in line with expectations bolstered bets on a Federal Reserve interest rate cut next month.

The Labor Department said the Consumer Price Index (CPI) rose 0.2% on a monthly basis in July, while annual inflation came in slightly below forecasts, drawing calls from U.S. President Donald Trump to lower interest rates.

The Dow Jones Industrial Average rose 483.52 points, or 1.10%, to 44,458.61, the S&P 500 gained 72.31 points, or 1.13%, at 6,445.76 and the Nasdaq Composite advanced 296.50 points, or 1.39%, to 21,681.90.

US Bond Yield (Flat)

The yield on 10-year Treasuries and 2-year Treasuries were up marginally in the early Wednesday trade.

Dollar Index (Down)

The dollar weakened on Wednesday after a tame reading on U.S. inflation bolstered expectations of a Federal Reserve rate cut next month, with President Donald Trump's attempts to extend his grip over U.S. institutions also undermining the currency.

Asian currencies (Up)

Most of Asian currencies were appreciated against the US dollar in the early trade on Wednesday with Philippines Peso leading the gainers, followed by Thai Baht, South Korean Won, Taiwan Dollar, China Renminbi, Malaysian Ringgit.

Crude (Flat)

Oil prices were little changed on Wednesday after falling in the previous session after an industry report showed U.S. crude stockpiles climbed last week illustrating the end of the seasonal summer demand period is nearing.

Gold (Flat)

Gold held a modest gain following a US inflation reading that was in line with expectations and
reinforced wagers on an interest-rate cut next month.

Fund Flow Action

The Foreign institutional investors (FIIs) extended their selling on second day as they sold equities worth Rs 3,398 crore on August 12, while Domestic institutional investors (DIIs) continued their buying in the month of August as they bought equities worth Rs 3,507 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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