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

Market Cues Today

Indian benchmark indices Sensex and Nifty open on a weak note on August 20, tracking GIFT Nifty, which was hovering around 24,971.50 earlier this morning.

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

Bulls further tightened their grip on Dalal Street on August 19 as the Indian equity indices extended the gains on their fourth straight sessions, with Nifty managing to cross the 25,000 level, led by buying in heavyweight stocks and broad-based buying, barring pharma. However, the index failed to hold ontothe  25,000 level amid profit booking at higher levels.

At close, the Sensex was up 370.64 points or 0.46 percent at 81,644.39, and the Nifty was up 103.70 points or 0.42 percent at 24,980.65. The BSE midcap and smallcap indices rose 1 percent each.

Here is how financial markets across the globe fared overnight:

GIFT Nifty (Down)

The GIFT Nifty is trading lower at around 24,971.50, indicating a negative opening for the day.

Asian Equities (Slip)

Most gauges in Asia fell as risk mood soured, with megacap tech companies on Wall Street hit by a stock rotation.

US Equities (Down)

The Nasdaq and S&P 500 slid on Tuesday, driven by tech stocks, as investors gear up for what Federal Reserve chair Jerome Powell will say about the path of interest rates at a key conference later in the week.

The Dow Jones Industrial Average rose 10.45 points, roughly flat, to 44,922.27, the S&P 500 lost 37.78 points, or 0.59%, to 6,411.37 and the Nasdaq Composite lost 314.82 points, or 1.46%, to 21,314.95.

US Bond Yield (Up)

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

Dollar Index (Up)

The dollar got off on the front foot on Wednesday following two days of gains as traders awaited the Federal Reserve's Jackson Hole annual symposium later this week for clues on the path for monetary policy.

Asian currencies (Down)

All the Asian currencies were trading lower against the US dollar, with the Philippine Peso leading the losers, followed by the Indonesian Rupiah, Malaysian Ringgit, South Korean Won, Thai Baht, and Taiwan Dollar.

Crude (Gains)

Oil steadied after a report signaled a decline in US stockpiles, while investors weighed the outlook
for Ukraine-Russia truce talks.

Gold (Down)

Gold held a small decline ahead of a key address by Federal Reserve Chair Jerome Powell later this week, which may give fresh clues on the central bank’s monetary path.

Fund Flow Action

The Foreign institutional investors (FIIs) sold equities worth Rs 634 crore on August 19, while Domestic institutional investors (DIIs) bought equities worth Rs 2261 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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