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

The GIFT Nifty is trading higher at around 24,983.50, indicating a strong start for the day.

Indian benchmark indices Sensex and Nifty are likely to open on a strong note on August 25, tracking GIFT Nifty, which was hovering around 24,983.50 earlier this morning.

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

Benchmark equity indices ended the week on a negative note, snapping a six-day gaining streak, with the Nifty 50 closing below 24,900 on all-around selling across sectors barring media and pharma.

At close, the Sensex was down 693.86 points or 0.85 percent at 81,306.85, and the Nifty was down 213.65 points or 0.85 percent at 24,870.10. BSE Midcap and Smallcap indices ended lower.

Here is how financial markets across the globe fared overnight:

GIFT Nifty (Gains)

The GIFT Nifty is trading higher at around 24,983.50, indicating a strong start for the day.

Asian Equities (Up)

Asian equities gained at the open, tracking Wall Street’s rally, after Federal Reserve Chairman Jerome Powell opened the door to resuming interest rate cuts.

US Equities (Gain)

Wall Street's main indexes ended higher on Friday, with the blue-chip Dow hitting a record closing high, as investors piled into stocks after U.S. Federal Reserve Chair Jerome Powell hinted at a near-term interest-rate cut during his Jackson Hole Symposium speech.

The Dow Jones Industrial Average rose 846.24 points, or 1.89%, to 45,631.74, surpassing its most recent record close on December 4, 2024. The S&P 500 gained 96.74 points, or 1.52%, to 6,466.91, and the Nasdaq Composite gained 396.22 points, or 1.88%, to 21,496.54.

US Bond Yield (Rises)

The yield on 10-year Treasuries and 2-year Treasuries were trading higher at 4.26% and 3.7%, respectively,  in the early Monday trade.

Dollar Index (Gains)

The U.S. dollar attempted on Monday to pull itself up from a four-week low on the euro after a dovish pivot from Federal Reserve Chair Jerome Powell sent it tumbling more than 1%.

Asian currencies (Mixed)

Asian currencies were trading mixed against the US dollar in the early trade on Monday, with the Philippines Peso, Taiwan Dollar, China Renminbi, Malaysian Ringgit trading with a gain, while the Indonesian Rupiah, Singapore Dollar, South Korean Won, Japanese Yen, and Thai Baht were trading lower

Crude (Flat)

Oil steadied after a weekly gain as traders monitored tensions over supplies, as well as the broader sentiment for risk assets following the Federal Reserve's signal of a return to interest-rate cuts.

Gold (Flat)

Gold held an advance as momentum for US interest-rate cuts grew, following Federal Reserve Chair Jerome Powell's opening of the door to a reduction in September.

Fund Flow Action

The Foreign institutional investors (FIIs) sold equities worth Rs 1622 crore on August 22, while Domestic institutional investors (DIIs) sold equities worth Rs 329 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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