Indian benchmark indices Sensex and Nifty 50 are likely to open higher on August 26, tracking cues from GIFT Nifty trading near 24,914.5, a short while ago this morning.
Track the latest updates on GIFT Nifty right here on Moneycontrol.
Indian indices ended flat with positive bias in rangebound trading on August 23, as investors remained cautious ahead of Fed Chair Powell’s comments at Jackson Hole, which will signal the timing, size and pace of interest-rate cuts in the US.
At close, the Sensex was up 33.02 points or 0.04 percent at 81,086.21, and the Nifty was up 11.65 points or 0.05 percent at 24,823.15.
Here is how financial markets across the globe fared overnight:
GIFT Nifty (Gains)
The GIFT Nifty is trading higher, indicating a positive start for the day. Nifty futures were trading at 24,914.5 at 07:10 am IST.
Asian Equities (Gain)
Asian markets were trading mixed on Monday amid escalating tensions in the Middle East with Israel and Hezbollah trading strikes, while investors assessed dovish comments from US Federal Reserve Chairman Jerome Powell.
| CHANGE FROM PREVIOUS CLOSE (%) | MTD (%) | YTD (%) | |
| Topix | -0.96 | -0.49 | 11.16 |
| Nikkei | -0.99 | 1.60 | 12.30 |
| Hang Seng | 0.70 | 2.95 | 5.32 |
| Taiwan | 1.23 | 4.60 | 21.35 |
| Kospi | -0.12 | 1.28 | 0.10 |
US stocks rallied on Friday as dovish remarks from US Federal Reserve Chair Jerome Powell solidified expectations that the central bank will cut its key policy rate in September.
The Dow Jones Industrial Average rose 462.3 points, or 1.14%, to 41,175.08, the S&P 500 gained 63.97 points, or 1.15%, to 5,634.61 and the Nasdaq Composite added 258.44 points, or 1.47%, to 17,877.79.
| CHANGE FROM PREVIOUS CLOSE (%) | MTD (%) | YTD (%) | |
| Dow Jones | 1.14 | 1.02 | 10.16 |
| S&P500 | 1.15 | 2.24 | 19.11 |
| Nasdaq | 1.47 | 1.79 | 20.09 |
The US 10-year Treasury yield was down 45 bps at 3.78 percent, while the US 2-year bond yield was down 86 bps at 3.88 percent.
| CURRENT PRICE | MTD | YTD | |
| US 10-Year Treasury | 3.78 | 4.19 | 4.25 |
| US 2-Year Treasury | 3.88 | 4.38 | 5.07 |
The yen rose to a three-week high against the dollar on Monday as Federal Reserve Chair Jerome Powell's emphatic dovish shift contrasted sharply with Bank of Japan chief Kazuo Ueda's steadfastly hawkish tone.
The US currency hovered near its lowest in 13 months against the euro. It also sagged closer to levels last seen in March 2022 versus sterling, with Bank of England head Andrew Bailey's comments that it was "too early to declare victory" over inflation signalling a less aggressive stance on interest rate cuts than the Fed.
The dollar sank as much as 0.59% to 143.56 yen for the first time since Aug. 5 in the early hours of Monday before last trading down 0.25%.
| CURRENT PRICE | MTD | YTD | |
| Dollar Index | 100.55 | 104.31 | 104.07 |
Asian currencies were trading higher against the US dollar, with the Japanese Yen leading as the top gainer, up nearly 2%, followed by the Malaysian Ringgit and Indonesian Rupiah.
| CHANGE FROM PREVIOUS CLOSE (%) | MTD (%) | YTD (%) | |
| Indonesian Rupiah | 0.697 | 4.66 | -0.600 |
| South Korean Won | 0.458 | 4.67 | -2.32 |
| Japanese Yen | 1.9 | 6.88 | -1.94 |
| Philippines Peso | 0. 080 | 3.53 | -1.74 |
| Thai Baht | -0.009 | 5.81 | -0.907 |
| Taiwan Dollar | 0. 528 | 3.23 | -3.84 |
| China Renminbi | 0.006 | 2.03 | 0.103 |
| Malaysian Ringgit | 0. 704 | 7.21 | 5.73 |
| Singapore Dollar | 0.015 | 3.20 | 1.47 |
Gold and Silver prices were trading flat in the early trade on Monday.
| CHANGE FROM PREVIOUS CLOSE (%) | MTD (%) | YTD (%) | |
| Gold | 0.02 | 2.65 | 21.82 |
| Silver | -0.06 | 2.60 | 25.20 |
Oil prices extended gains on Monday on fears a major spillover in fighting from the Gaza conflict into the Middle East could disrupt regional oil supplies, while imminent U.S. interest rate cuts lifted the global economic and fuel demand outlook.
| CHANGE FROM PREVIOUS CLOSE (%) | MTD (%) | YTD (%) | |
| US West Texas | 0.88 | -3.14 | 5.36 |
| Brent Crude | 0.80 | -1.35 | 3.39 |
LME commodities gained in the early trade on Monday with Lead prices up 3 percent and Aluminium prices up 2.5 percent.
| CHANGE FROM PREVIOUS CLOSE (%) | MTD (%) | YTD (%) | |
| Aluminium | 2.50 | 10.98 | 6.63 |
| Copper | 1.73 | 0.69 | 8.52 |
| Nickel | 0.93 | 0.93 | 0.93 |
| Lead | 3.12 | 1.61 | 2.34 |
| Zinc | 1.89 | 8.84 | 9.56 |
The foreign institutional investors (FIIs) extended their buying as they bought equities worth Rs 1,944 crore on August 23, while domestic institutional investors also bought equities worth Rs 2896 crore on the same day.
| 23rd August | MTD | YTD | |
| FII Net Flows | 1,944.48 | -30,585.8 | -1,51,753.49 |
| DII Net Flows | 2,896.02 | 47,080.38 | 3,04,405.44 |
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.
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