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

Market Today

Indian benchmark indices Sensex and Nifty 50 are likely to open on a positive note on February 4, tracking cues from GIFT Nifty trading around 23,549, a short while ago this morning.

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

Indian equities fell on February 3, tracking losses in global markets after US President Donald Trump announced new tariffs on key trading partners, including Canada, Mexico, and China.

The NSE Nifty 50 declined 0.52 percent to 23,361.05, while the BSE Sensex dropped 0.4 percent to 77,192.86 at closing.

Here is how financial markets across the globe fared overnight:

GIFT Nifty (Gains)

The GIFT Nifty is a trading firm, indicating a positive start for the day. Nifty futures were trading at 23,549 at around 07:00 am IST.

Asian Equities (Rise)

Asian shares climbed after President Donald Trump delayed tariffs on Mexico and Canada for a month, and said he’d hold further talks with China.

US Equities (Down)

The major stock indexes closed lower on Monday, but partly recovered from initial steeper losses as U.S. President Donald Trump delayed tariffs on Mexico after his orders to levy tariffs on three countries sparked a global scramble to safe-haven assets earlier in the day.

The S&P 500 lost 45.45 points, or 0.75%, to end at 5,995.01 points, while the Nasdaq Composite lost 235.21 points, or 1.20%, to 19,392.23. The Dow Jones Industrial Average fell 124.47 points, or 0.27%, to 44,420.19.

US Bond Yield (Up)

US 10-Year Treasury yield was up 13 bps while US 2-Year Treasury was up 24 bps in the early trade on Tuesday.

Dollar Index (Down)

The dollar index pared some previous session gains against the major currencies in the early Tuesday trade after U.S. President Donald Trump paused new tariffs on Mexico for one month.

Asian currencies (Mixed)

Asian currencies were trading mixed in the early trade with the Indonesian Rupiah leading the losers, followed by the Japanese Yes, on the other hand, the Malaysian Ringgit was leading the gainers followed by the Philippines Peso, and South Korean Won.

Crude (Down)

West Texas Intermediate oil fell early in Tuesday’s session after its biggest advance in more than two weeks.

Gold (Flat)

Gold was steady near a record high as President Donald Trump’s tariff threats and subsequent delays boosted uncertainty and supported haven demand.

Fund Flow Action

On February 3, the Foreign institutional investors (FIIs) remained net sellers for the 23rd session, as they offloaded equities worth Rs 3958 crore, while domestic institutional investors (DIIs) bought equities worth Rs 2708 crore on the same day.

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.