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

At close, the Sensex was up 150.30 or 0.19 percent at 80,718.01 and the Nifty was up 19.25 points or 0.08 percent at 24,734.30.

Indian benchmark indices Sensex and Nifty are likely to see a positive start on September 5,  tracking GIFT Nifty, which was hovering around 24,883 earlier this morning.

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

The Indian equity market extended the gains on the second day with Nifty finishing above 24,700, led by auto, FMCG, and consumption-oriented stocks, post the Goods and Services Tax (GST) Council announcement of rate rationalisation.

At close, the Sensex was up 150.30 or 0.19 percent at 80,718.01 and the Nifty was up 19.25 points or 0.08 percent at 24,734.30. BSE Midcap and smallcap indices shed 0.6 percent each.

Here is how financial markets across the globe fared overnight:

GIFT Nifty (Up)

The GIFT Nifty is trading higher at around 24,883, indicating a firm opening for the day.

Asian Equities (Rise)

Asian shares posted early gains Friday after stocks and bonds rallied on Wall Street as further signs of a cooling labor market reinforced bets the Federal Reserve will cut rates this month.

US Equities (Gain)

The S&P 500 posted a closing record high on Thursday as labor market data did not change expectations for an interest rate cut by the Federal Reserve, a day ahead of the key U.S. monthly jobs report.

The Dow Jones Industrial Average rose 350.06 points, or 0.77%, to 45,621.29, the S&P 500 gained 53.82 points, or 0.83%, to 6,502.08, and the Nasdaq Composite gained 209.97 points, or 0.98%, to 21,707.69.

US Bond Yield (Down)

The yield on 10-year Treasuries and 2-year Treasuries were trading marginally lower in the early Friday trade.

Dollar Index (Down)

The dollar slipped against Group-of-10 peers as markets await US jobs data to gauge the pace of Federal Reserve rate cuts. Yen edged higher after the wages data.

Asian currencies (Up)

Among Asian currencies except the Indonesian Rupiah, all other currencies were trading higher in the early Friday trade, with the Philippines Peso leading the gainers, followed by Japanese Yen, Thai Baht, South Korean Won, Singapore Dollar, Taiwan Dollar

Crude (Slips)

Oil prices drifted down in early trading on Friday for the third straight day as investors awaited an OPEC+ meeting this weekend that will consider further output hikes.

Gold (Down)

Gold is headed for a third weekly gain, ahead of a US jobs report that may reinforce bets that the Federal Reserve will cut interest rates later this month.

Fund Flow Action

The Foreign institutional investors (FIIs) sold equities worth Rs 106 crore on September 04, while Domestic institutional investors (DIIs) bought equities worth Rs 2233 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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