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 positive start on February 5, tracking cues from GIFT Nifty trading around 23,846.50, a short while ago this morning.

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

India's benchmark indices, Sensex and Nifty, surged 1.8 percent on the back of strong gains in capital goods, banking, energy, and auto stocks. Market sentiment remained upbeat ahead of the Reserve Bank of India's bi-monthly policy announcement scheduled for Friday.

At close, the Sensex climbed 1.81% (1,397.07 points) to 78,583.81, while the Nifty advanced 1.6% (378.20 points) to 23,739.25.

Here is how financial markets across the globe fared overnight:

GIFT Nifty (Gains)

The GIFT Nifty is a trading higher, indicating a positive start for the day. Nifty futures were trading at 23,846.50at around 07:15 am IST.

Asian Equities (Gain)

Asian stocks rose as traders navigated their way through a US-China trade war and earnings from Wall Street’s big tech companies. Chinese markets are set to reopen.

US Equities (Gain)

US stocks rallied on Tuesday, while gold reached new highs as global trade jitters kept investors guessing.

All three major US stock indexes gained momentum after last-minute negotiations resulted in one-month reprieves on President Donald Trump's 25% levies against Canada and Mexico.

The Dow Jones Industrial Average rose 134.13 points, or 0.30%, to 44,556.04, the S&P 500 rose 43.31 points, or 0.72%, to 6,037.88 and the Nasdaq Composite rose 262.06 points, or 1.35%, to 19,654.02.

US Bond Yield (Up)

US 10-Year Treasury yield rose 18 bps at 4,51 percent and US 2-Year Treasury was up 15 bps at 4.22 percent in the early Wednesday trade.

Dollar Index (Flat)

The U.S. dollar edged lower as President Donald Trump’s tariff threats were interpreted more as a negotiating tactic rather than an end goal, a day after he suspended planned measures against Mexico and Canada.

Asian currencies (Up)

Asian currencies were trading mostly higher in the early trade on Wednesday.

Crude (Gains)

In commodities, oil edged higher despite  concerns that the trade war would hurt global growth outweighed the announcement of reinforced sanctions on Iran

Gold (Flat)

Gold rose to a record high, after advancing by almost 1% in the previous session, as the opening salvos of the US-China trade war stoked haven demand.

Fund Flow Action

After remaining net sellers for the 23 sessions, the Foreign institutional investors (FIIs) turned net buyers on February 4, as they bought equities worth Rs 809 crore. On the contrary, 35 domestic institutional investors (DIIs) turned net sellers after remaining net buyers for the last 35 sessions, as they sold equities worth Rs 430 crore.

Hope you're all set for today's trade, we wish you a profitable day ahead.

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