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

Indian benchmark indices Sensex and Nifty 50 are likely to see a negative start on April 4, tracking cues from GIFT Nifty trading around 23,211 a short while ago this morning.

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

A volatile session on Dalal Street ended lower on April 3, amid weakness in global markets following higher-than-expected tariff from US President Trump, which triggered selloff in IT, while pharma bucked the trend.

Shares of IT services players were hit hard over growth concern and fears of client spend being impacted, while pharma shares buck the trend after being excluded from the reciprocal tariffs.

At close, the Sensex was down 322.08 points or 0.42 percent at 76,295.36, and the Nifty was down 82.25 points or 0.35 percent at 23,250.10. Broader indices outperformed the benchmarks, with BSE Midcap index rising 0.3 percent and Smallcap index adding 0.7 percent in trade.

GIFT Nifty (Down)

The GIFT Nifty is trading lower at around 23,211, indicating a negative opening for the day.

Asian Equities (Down)

Asian markets extended declines on Friday, tracking steep losses on Wall Street after U.S. President Donald Trump’s tariffs rattled global markets.

US Equities (Slip)

Wall Street benchmarks slumped on Thursday, ending with the largest one-day percentage losses in years, as U.S. President Donald Trump's sweeping tariffs ignited fears of an all-out trade war and a global economic recession.

Investors fled from risky assets, seeking the safety of government bonds, after Trump slapped a 10% tariff on most U.S. imports and much higher levies on dozens of other countries.

The S&P 500 lost 275.05 points, or 4.85%, to end at 5,395.92 points, while the Nasdaq Composite dropped 1,053.60 points, or 5.99%, to 16,547.45. The Dow Jones Industrial Average fell 1,682.61 points, or 3.98%, to 40,542.71.

US Bond Yield (Down)

US 10- year Treasury yields were down 33 basis points at 4 percent and US 2- year Treasury yields were down 61 basis points at 3.65 percent.

Dollar Index (Down)

Against a basket of currencies, the dollar languished near a six-month low near 102.

Asian currencies (Mixed)

Asian currencies were trading mixed in the early Friday trade with South Korean Won leading the gainers, followed by Taiwan Dollar, Philippines Peso, Malaysian Ringgit. On the other hand, Indonesian Rupiah, Japanese Yen and China Renminbi were trading lower.

Crude (Down)

Oil extended declines on Friday following losses in the previous session after OPEC+ unexpectedly increased the supply by three times the planned amount in May, weighing on a gauge of commodities also grappling with the tariff news.

Gold (Flat)

gold fell from a fresh record high, while Silver prices were trading with little change.

Fund Flow Action

The Foreign institutional investors (FIIs) continued selling on fourth day as they sold equities worth Rs 2806 crore on April 3. On the other hand, Domestic institutional investors (DIIs) remained net buyers on fifth consecutive day as they purchased equities of Rs 221 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.