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 flat on February 7, tracking cues from GIFT Nifty trading around 23,702, a short while ago this morning.

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

Indian markets closed slightly lower on February 6, weighed down by blue-chip stocks such as Titan, ITC, State Bank of India, and PowerGrid amid weaker earnings. Bharti Airtel emerged as the top loser among benchmark indices ahead of its key earnings release later today, contributing significantly to the market decline.

At the close, the Sensex slipped 0.27 percent, losing 213.12 points to settle at 78,058.16, while the Nifty declined 0.39 percent, down 92.95 points to 23,603.35. This marked the second consecutive session of losses for both indices.

Here is how financial markets across the globe fared overnight:

GIFT Nifty (Flat)

The GIFT Nifty is a trading flat, indicating a muted start for the day. Nifty futures were trading at 23,702 at around 07:00 am IST.

Asian Equities (Down)

Asian stocks fell Friday after muted moves on Wall Street as traders awaited US jobs data that will help illuminate the path ahead for interest rates.

US Equities (Mixed)

The S&P 500 and the Nasdaq ended higher while the Dow closed lower after a choppy trading session on Thursday, as investors sifted through earnings reports and awaited Amazon's results after the bell and a key jobs report on Friday.

The Dow Jones Industrial Average fell 125.65 points, or 0.28%, to 44,747.63, the S&P 500 gained 22.09 points, or 0.36%, to 6,083.57 and the Nasdaq Composite gained 99.66 points, or 0.51%, to 19,791.99.

US Bond Yield (Flat)

The yield on 10-year and 2-year Treasuries were little changed at 4.43% and 4.21%, respectively.

Dollar Index (Flat)

The dollar index was little changed. Gains for the yen followed comments from Bank of Japan board member Naoki Tamura who underscored the case for higher interest rates.

Asian currencies (Down)

Asian currencies were trading mostly lower against the US dollar in the early Friday trade. On year-to-date basis, the Japanese Yes rose nearly 4 percent, South Korean Won added more than 2 percent and Thai Baht, Singapore Dollar rose 1 percent each.

Crude (Flat)

Oil trade with no change as Trump’s renewed pledge to drive down the price of crude overshadowed his push for tighter Iranian sanctions.

Gold (Flat)

Gold was steady near a record high ahead of a key US jobs report, while heightened geopolitical tensions and economic concerns continued to support haven demand.

Fund Flow Action

The Foreign institutional investors (FIIs) sold equities worth Rs 3,549.95 crore, while domestic institutional investors (DIIs) bought equities worth Rs 2,721.66 crore.

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

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