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

Indian benchmark indices Sensex and Nifty 50 are likely to see a higher opening on May 5, tracking cues from GIFT Nifty trading around 24,517 a short while ago this morning.

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

In a highly volatile session on May 2, the Indian benchmark indices ended with marginal gains with Nifty around 24,350 level led by IT, media, oil & gas stocks.

At close, the Sensex was up 259.75 points or 0.32 percent at 80,501.99, and the Nifty was up 12.50 points or 0.05 percent at 24,346.70.

Here is how financial markets across the globe fared overnight:

GIFT Nifty (Gains)

The GIFT Nifty is trading higher at around 24,517, indicating a positive start for the day.

Asian Equities (Up)

Asian stocks had a muted open amid holidays in some of the biggest markets.

US Equities (Gain)

Wall Street stocks advanced on Friday, notching the second straight week of gains, helped by strong economic data and potential easing of trade tensions between the U.S. and China.

The Dow Jones Industrial Average rose 564.47 points, or 1.39%, to 41,317.43, the S&P 500 gained 82.54 points, or 1.47%, to 5,686.68, and the Nasdaq Composite gained 266.99 points, or 1.51%, to 17,977.73.

US Bond Yield (Up)

The US 10-year Treasury yield added 9 basis point at 4.30 percent, and the US 2-year bond yield was up 15 basis points at 3.82 percent in the early Monday trade.

Dollar Index (Down)

The dollar was struggling to hold its ground on Monday even as concerns about a U.S. recession eased just a little, while investors awaited actual evidence of a thaw in Sino-U.S. trade relations, as opposed to just hints from officials.

Asian currencies (Up)

All the Asian currencies were trading higher in the early Monday trade. Taiwan's Dollar and Malaysian Ringgit led most currencies higher on the back of weaker dollar and expectations that US-China trade tensions will ease.

Crude (Slips)

Oil slumped in early trading after OPEC+ agreed to a further surge in output over the weekend, bolstering global supplies.

Gold (Gains)

Gold advanced — after its first back-to-back weekly loss this year — as investors mulled an uncertain outlook for global trade and the US economy ahead of a Federal Reserve
rate decision this week.

Fund Flow Action

The Foreign institutional investors (FIIs) remained net buyers on the 12th consecutive session on May 2 as they bought equities of Rs 2769 crore. Domestic institutional investors (DIIs) also bought equities of Rs 3290 crore.

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

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