Indian benchmark indices Sensex and Nifty are likely to see a weak start on August 26, tracking GIFT Nifty, which was hovering around 24,928 earlier this morning.
Track the latest updates on GIFT Nifty right here on Moneycontrol.
Benchmark indices started the week on a positive note, erasing some of the previous session's losses as IT and metal shares rallied on Federal Reserve Chair Powell's hint on US interest rate trajectory, though the Nifty 50 index continued to face resistance at around 25,000 levels.
The index pulled back from the highs of the day, and at close, the Sensex closed up 329.06 points or 0.40 percent at 81,635.91, while the Nifty 50 was up 97.65 points or 0.39 percent at 24,967.75. Broader market indices underperformed key indices, with the BSE Mid and Smallcap indices ending on a flat note.
Here is how financial markets across the globe fared overnight:GIFT Nifty (Down)
The GIFT Nifty is trading lower at around 24,928, indicating a negative start for the day.
Asian Equities (Down)
Asian markets were trading lower in the early trade on Tuesday, tracking losses on Wall Street, as investors weighed U.S. President Donald Trump’s comments on China.
US Equities (Slip)
Wall Street stocks ended lower on Monday as investors parsed the outlook for U.S. interest rates and looked ahead to AI chipmaker Nvidia's quarterly earnings this week, while digesting a rally on Friday that lifted the Dow Jones Industrial Average to a record high close.
The S&P 500 declined 0.43% to end the session at 6,439.32 points.
The Nasdaq declined 0.22% to 21,449.29 points, while the Dow Jones Industrial Average declined 0.77% to 45,282.47 points.
US Bond Yield (Mixed)
The yield on 10-year Treasuries gained, while on 2-year Treasuries were trading lower on Tuesday after President Donald Trump announced he was removing a Federal Reserve governor, which undermined confidence in U.S. assets.
Dollar Index (Down)
The dollar slid in Asian trading on Tuesday after President Donald Trump announced he was removing a Federal Reserve governor, which undermined confidence in U.S. assets.
Asian currencies (Gain)
Asian currencies were trading mostly higher against the US dollar in the early Tuesday trade, with the Indonesian Rupiah leading the gainers, followed by the Japanese Yen, the Philippines Peso, Thai Baht.
Crude (Down)
Oil prices edged down on Tuesday after surging nearly 2% in the previous session, as traders kept a close watch on developments in the Russia-Ukraine conflict for the potential impact on fuel supplies from the region.
Gold (Up)
Gold prices were trading higher after President Donald Trump removed Federal Reserve Governor Lisa Cook, raising concerns about the independence of the central bank.
Fund Flow Action
The Foreign institutional investors (FIIs) remained net sellers on the second day on August 25 as they sold equities worth Rs 2466 crore, while Domestic institutional investors (DIIs) purchased equities worth Rs 3176 crore on the same day.
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