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

Market Today

Indian benchmark indices Sensex and Nifty likely to open on a muted note today, tracking GIFT Nifty, which was hovering around 25,071 earlier this morning.

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

Indian equity markets extended the winning run for fifth consecutive session on August 20, led by IT, FMCG, realty names, marking the longest gaining streak in last two months.

At close, the Sensex was up 213.45 points or 0.26 percent at 81,857.84, and the Nifty was up 69.90 points or 0.28 percent at 25,050.55.

The broader indices also extended their gains on the third straight session with BSE midcap and smallcap indices adding 0.3 percent each.

The GIFT Nifty is trading flat at around 25,071, indicating a muted start for the day.

Asia markets were trading mixed as investors assessed the four-day losing streak for the S&P 500, led by declines in tech stocks.

The Nasdaq and S&P 500 fell on Wednesday as investors sold tech stocks and moved into less highly valued sectors, as they also awaited remarks from Federal Reserve officials at their Jackson Hole symposium this week.

The S&P 500 lost 16.40 points, or 0.26%, to end at 6,394.97 points, while the Nasdaq Composite lost 144.76 points, or 0.68%, to 21,170.19. The Dow Jones Industrial Average rose 1.48 points, to 44,923.75.

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

The U.S. dollar drifted on Thursday as investors fretted about the Federal Reserve's independence after yet another attack from President Donald Trump ahead of remarks from Chair Jerome Powell later this week that could influence the outlook for rates.

Except China Renminbi, Malaysian Ringgit, all other Asian currencies were trading lower against the US dollar.

Oil prices gained slightly on Thursday as larger-than-expected declines crude oil and fuel inventories in the U.S., the world's biggest oil user, supported expectations for steady demand.

Gold held a gain after President Donald Trump's call for a Federal Reserve governor to quit raised fresh concern about the Central bank's independence, bolstering a heavy demand.

The Foreign institutional investors (FIIs) extended selling on second day as they sold equities worth Rs 1100 crore on August 20, while Domestic institutional investors (DIIs) purchased equities worth Rs 1806 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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