Indian benchmark indices Sensex and Nifty 50 are likely to see positive start on January 6, tracking cues from GIFT Nifty trading around 24,125.5, a short while ago this morning.
Track the latest updates on GIFT Nifty right here on Moneycontrol.
After posting solid gains in the first two sessions of the new year, the bears took charge of the Dalal Street on January 3 dragging Nifty almost below the crucial 24,000 level amid selling seen in the IT, Pharma and Banking names. However, buying in media and oil & gas stocks limited extent of the losses.
At close, the Sensex was down 720.60 points or 0.90 percent at 79,223.11, and the Nifty was down 183.90 points or 0.76 percent at 24,004.75.
Here is how financial markets across the globe fared overnight:GIFT Nifty (Up)
The GIFT Nifty is trading higher, indicating a positive start for the day. Nifty futures were trading at 24,125.5 at 07:00 am IST.
Asian Equities (Mixed)
Asian equities fluctuated on Monday after Wall Street snapped a five-day losing streak, helped by fresh demand for big tech stocks.
| Change From Previous Close (%) | MTD (%) | YTD (%) | |
| Topix | -0.35 | -0.45 | -0.45 |
| Nikkei | -0.70 | -0.68 | -0.68 |
| Hang Seng | -0.42 | -1.84 | -1.84 |
| Taiwan | 1.54 | 0.72 | 0.72 |
| Kospi | 1.17 | 3.65 | 3.65 |
US Equities (Rise)
US stocks rebounded on Friday as investors neared the end of a holiday-shortened week that also rang in a new year, which brought with it expectations of additional Federal Reserve rate cuts and looser regulatory policies from the incoming administration.
The Dow Jones Industrial Average rose 339.86 points, or 0.80%, to 42,732.13, the S&P 500 gained 73.92 points, or 1.26%, to 5,942.47 and the Nasdaq Composite gained 340.88 points, or 1.77%, to 19,621.68.
| Change From Previous Close (%) | MTD (%) | YTD (%) | |
| Dow Jones | 0.80 | 0.64 | 0.64 |
| S&P500 | 1.26 | 1.23 | 1.23 |
| Nasdaq | 1.77 | 1.81 | 1.81 |
US Bond Yield (Up)
The US 10-Year Treasury added 53 bps at 4.62 percent and 2-year Treasury was up 24 bps at 4.28 percent in the early trade on Monday.
| Current Price | MTD | YTD | |
| US 10-Year Treasury | 4.62 | 4.15 | 4.04 |
| US 2-Year Treasury | 4.28 | 4.10 | 4.38 |
Dollar Index (Flat)
The dollar strayed not too far from a two-year peak on Monday as traders awaited a raft of U.S. economic data releases this week, headlined by December's nonfarm payrolls report, for further clues on the Federal Reserve's rate outlook.
| Current Price | MTD | YTD | |
| Dollar Index | 108.97 | 106.05 | 102.41 |
Asian currencies (Down)
Asian currencies were trading mostly lower against the US dollar in the early Monday trade with Japanese Yen depreciated the most followed by South Korean Won, Philippines Peso and China Renminbi.
| Change From Previous Close (%) | MTD (%) | YTD (%) | |
| Indonesian Rupiah | 0.006 | -1.55 | -0.401 |
| South Korean Won | -0.128 | -3.32 | 0.462 |
| Japanese Yen | -0.165 | -4.78 | -0.222 |
| Philippines Peso | -0.136 | -0.857 | -0.440 |
| Thai Baht | -0.104 | -1.36 | -0.472 |
| Taiwan Dollar | 0.055 | -1.67 | -0.434 |
| China Renminbi | -0.302 | -0.482 | -0.303 |
| Malaysian Ringgit | -0.095 | -1.88 | -0.726 |
| Singapore Dollar | 0.00 | -2 | -0.321 |
Crude (Gains)
Oil prices hovered at their highest since October on Monday as investors eyed the impact on global fuel demand from colder weather in the Northern Hemisphere and Beijing's economic stimulus measures.
| Change From Previous Close (%) | MTD (%) | YTD (%) | |
| US West Texas | 0.23 | 3.35 | 3.35 |
| Brent Crude | 0.16 | 2.67 | 2.67 |
Gold (Gains)
Gold prices traded near USD 2,640 an ounce after San Francisco Fed President Mary Daly and Fed Governor Adriana Kugler emphasized the need to finish off the fight against inflation and reach the authority’s 2% target. Lower rates tend to benefit gold, as it doesn’t pay interest.
| Change From Previous Close (%) | MTD (%) | YTD (%) | |
| Gold | 0.24 | 0.85 | 0.85 |
| Silver | 0.41 | 2.93 | 2.93 |
Fund Flow Action
The Foreign institutional investors (FIIs) sold equities worth Rs 4,227 crore on January 3, while domestic institutional bought equities worth Rs 820 crore on the same day.
| 3rd Jan | MTD | YTD | |
| FII Net Flows | -4,227.25 | -4,503.21 | -4,503.21 |
| DII Net Flows | 820.60 | 2,533.11 | 2,533.11 |
Hope you're all set for today's trade, we wish you a profitable day ahead.
Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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