Indian benchmark indices Sensex and Nifty are likely to open on a positive note on August 28, tracking GIFT Nifty, which was hovering around 24,649.5 earlier this morning.
Track the latest updates on GIFT Nifty right here on Moneycontrol.
Benchmark indices ended near the day's low on August 26, with largecaps dragging Nifty below 24,700 during trade on worries over US President Trump's draft order to implement additional 25 percent tariff on Indian imports effective August 27.
At close, the Sensex was down 849.37 points or 1.04 percent at 80,786.54, and the Nifty was down 255.70 points or 1.02 percent at 24,712.05. The BSE midcap index fell 1.3 percent while the smallcap index fell 1.7 percent.
Here is how financial markets across the globe fared overnight:
GIFT Nifty (Up)
The GIFT Nifty is trading higher at around 24,649.5, indicating a positive start for the day.
Asian Equities (Mixed)
Asian stocks wobbled on Thursday as blowout earnings from artificial intelligence bellwether Nvidia were offset by worries over the outlook for its China business, while the dollar remained shaky as investors bet on a near-term rate cut.
US Equities (Gain)
The S&P 500 notched a record high close on Wednesday ahead of quarterly results from Nvidia, Wall Street's most closely watched event this week, which will test the rally that has pushed valuations of AI-related companies to levels that some investors view as too high.
The S&P 500 climbed 0.24% to end the session at 6,481.40 points, exceeding its previous record high close on August 14.
The Nasdaq gained 0.21% to 21,590.14 points, while the Dow Jones Industrial Average rose 0.32% to 45,565.23 points.
US Bond Yield (Flat)
The yield on 10-year Treasuries and 2-year Treasuries were trading with little change in the early trade on Thursday.
Dollar Index (Down)
The dollar started Thursday on the back foot as traders added to bets for a Federal Reserve interest rate reduction next month after New York Fed chief John Williams signaled a cut was possible.
Asian currencies (Gain)
Among Asian currencies, except Indonesian Rupiah, all other currencies were trading higher with Philippines Peso leading the gainers, followed by Thai Baht, Taiwan Dollar, Malaysian Ringgit, Singapore Dollar
Crude (Down)
Oil prices fell on Thursday as investors weighed the outlook for U.S. fuel demand with the end of the summer driving season near, while assessing potential crude supply shifts as India faces punishing U.S. tariffs for importing Russian oil.
Gold (Slips)
Gold prices were trading lower after a two-day gain on concern over the independence of the Federal Reserve and inflation risks in the US.
Fund Flow Action
The Foreign institutional investors (FIIs) extended the selling pressure on third day as they offloaded equities worth Rs 6516 crore on August 26, while Domestic institutional investors (DIIs) continued their buying on second day as they purchased equities worth Rs 7060 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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