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 higher on February 6, tracking cues from GIFT Nifty trading around 23,801.5, a short while ago this morning.

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

Indian markets closed lower on February 5, dragged down by losses in consumer stocks amid weak earnings. Investor sentiment remained cautious ahead of the Reserve Bank of India's key bi-monthly policy announcement scheduled for February 7.

The benchmark Sensex declined 0.4 percent, shedding 312 points to close at 78,271, while the Nifty settled 0.18 percent lower, losing 43 points to end at 23,696.30.

Here is how financial markets across the globe fared overnight:

GIFT Nifty (Up)

The GIFT Nifty is a trading firm, indicating a positive start for the day. Nifty futures were trading at 23,801.5 at around 07:00 am IST.

Asian Equities (Gain)

Asian equities advanced Thursday after stocks and bonds rose on Wall Street in a week marred by
tariffs, lackluster tech earnings and uneven US economic data. Shares in Australia, Japan and South Korea rose, while equity futures for Hong Kong also advanced.

US Equities (Up)

US stocks ended a see-saw session with gains and benchmark Treasury yields slid on Wednesday as disappointing earnings and mixed economic data counterbalanced easing jitters of a spreading global trade war.

All three major U.S. stock indexes closed in positive territory, but the tech-heavy Nasdaq's nominal gain was held in check by disappointing earnings from Alphabet, which fueled doubts about the payoff of investment in artificial intelligence.

The Dow Jones Industrial Average rose 317.24 points, or 0.71%, to 44,873.28, the S&P 500 rose 23.60 points, or 0.39%, to 6,061.48 and the Nasdaq Composite rose 38.32 points, or 0.19%, to 19,692.33.

US Bond Yield (Rises)

The yield on 10-year Treasuries was little changed at 4.42%, while US 2-Year Treasury was up 10 bps at 4.19 percent in the early trade on Thursday.

Dollar Index (Flat)

Lower yields weighed on the dollar. An index of greenback strength fell 0.2% to the lowest level in a week, undoing the gains spurred on by news of Donald Trump’s tariffs on Mexico,
Canada and China over the past week that initially boosted demand for defensive assets.

Asian currencies (Mixed)

Asian currencies were trading mixed in the early Thursday trade with Malaysian Ringgit, China Renminbi, South Korean Won leading the losers, while Indonesian Rupiah, Japanese Yen and Philippines Peso among the major gainers.

Crude (Gains)

In commodities, oil prices trade marginally higher on Thursday after falling more than 2 percent in the previous session.

Gold (Up)

Gold steadied in early Asian trading — after blowing through a series of record highs in the previous session — with rising economic and geopolitical risks supporting haven
demand.

Fund Flow Action

The Foreign institutional investors (FIIs) turned net sellers on February 5, as they sold equities worth Rs 1,682.83 crore, while domestic institutional investors (DIIs) purchased equities worth Rs 996.28 crore.

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

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