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 negative note on April 17, tracking cues from GIFT Nifty trading around 23,332.50 a short while ago this morning.

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

Benchmark indices ended the session sharply higher after a range-bound first half, rallying on reports that China is open for trade talk with the US, helping Nifty and Sensex close above 24,400 and 77,000, respectively, up for a third session.

At close, the Sensex was up 309.40 points or 0.40 percent at 77,044.29, and the Nifty was up 108.65 points or 0.47 percent at 23,437.20. BSE Midcap index rose 0.5 percent and smallcap index jumped nearly 1 percent, and among sectors, gains were led by media, PSU bank, oil & gas sector rising between 1-2 percent, however, auto, IT, pharma pack sold off. Banks supported the rally, with PSU lenders emerging as top gainers among the midcap names.

Here is how financial markets across the globe fared overnight:

GIFT Nifty (Down)

The GIFT Nifty is trading lower at around 23,332.50, indicating a weak start for the day.

Asian Equities (Up)

Asian stocks edged up and the yen weakened following Japan’s progress in trade talks, with investors adopting a wait-and-see approach to see how other tariff negotiations unfold.

US Equities (Down)

US stocks ended sharply lower on Wednesday as Nvidia warned about steep charges from new U.S. curbs on its chip exports to China and Federal Reserve Chair Jerome Powell said U.S. economic growth appears to be slowing.

The Dow Jones Industrial Average fell 699.57 points, or 1.73%, to 39,669.39, the S&P 500 lost 120.93 points, or 2.24%, to 5,275.70 and the Nasdaq Composite lost 516.01 points, or 3.07%, to 16,307.16.

US Bond Yield (Up)

The yield on 10-year Treasuries advanced 3 basis points to 4.30%, while US 2-year bond yield was up 3 bps to 3.80%

Dollar Index (Up)

The dollar looked set to notch a fourth straight weekly loss on Thursday as tariffs drive investors from U.S. assets, though it lifted off a seven-month low against the yen as U.S.-Japan trade talks have so far steered clear of any currency discussion.

Asian currencies (Mixed)

Asian currencies were trading mixed against the US dollar, with the Japanese yen leading as the top loser, down by 0.44%, followed by the Indonesian Rupiah, South Korean Won, Singapore dollar. . Over the past month, Indonesian Rupiah and China Renminbi, all other Asian currencies strengthened.

Crude (Up)

Oil prices extended gains on Thursday on the prospect of tighter supply after Washington imposed further sanctions to curb Iranian oil trade and as some OPEC producers pledged further output cuts to compensate for pumping above agreed quotas.

Gold (Gains)

Gold advanced to a record high, while Silver price also trading higher in the early trade on Thursday.

Fund Flow Action

The Foreign institutional investors (FIIs) extended buying on second day as they bought equities worth Rs 3936 crore. However, Domestic institutional investors (DIIs) extended their selling on second session as they sold equities of Rs 2512 crore on the same day.

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

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