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

Market Today

Indian benchmark indices Sensex and Nifty 50 are likely to see a flat to negative start on January 9, tracking cues from GIFT Nifty trading around 23,720.50, a short while ago this morning.

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

A sharp rebound in the second half on January 8 amid buying in heavyweights and IT, oil & gas, FMCG stocks, helped the Indian benchmark indices to erase most of the intraday losses to end nearly flat.

At close, the Sensex was down 50.62 points or 0.06 percent at 78,148.49, and the Nifty was down 18.95 points or 0.08 percent at 23,688.95.

Here is how financial markets across the globe fared overnight:

GIFT Nifty (Down)

The GIFT Nifty is trading lower, indicating a flat to negative start for the day. Nifty futures were trading at 23,720.50 at 07:00 am IST.

Asian Equities (Down)

Asian shares fell after a range-bound session on Wall Street, as caution grew ahead of Thursday’s closure of US equity markets and an important jobs report later in the week.

US stocks ended little changed on Wednesday in a session they struggled for a clear direction, as investors digested the impact of two conflicting sets of jobs data and a report that said President-elect Donald Trump was mulling a national economic emergency declaration on inflation.

The Dow Jones Industrial Average rose 106.84 points, or 0.25%, to 42,635.20, the S&P 500 gained 9.20 points, or 0.16%, to 5,918.23 and the Nasdaq Composite lost 10.80 points, or 0.06%, to 19,478.88.

The US 10-Year Treasury shed 30 bps at 4.67 percent and 2-year Treasury declined 24 bps at 4.27 percent in the early trade on Thursday.

The dollar index was flat against the major currencies in the early trade.

Asian currencies were trading lower against the US dollar in the early trade on Thursday. On month-on-month basis, all the currencies depreciated with Japanese Yen shed more than 4 percent.

Oil prices fell on Thursday, extending losses from the previous day, pressured by large builds in U.S. fuel inventories last week, though concerns over tighter supplies from OPEC members and Russia capped the decline.

Gold steadied after a two-day advance as traders mulled the outlook for the Federal Reserve’s easing path ahead of key jobs figures due later this week.

The Foreign institutional investors (FIIs) extended their selling on fourth day, as they sold equities worth Rs 3,362 crore on January 8, while domestic institutional increased their buying as they bought equities worth Rs 2,716.28 crore on the same day.

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