First Tick: Top 10 global cues for today’s trade

Market Today

Indian benchmark indices Sensex and Nifty 50 are likely to open lower on August 29, tracking cues from GIFT Nifty trading near 25,002.00, a short while ago this morning.

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

Indian indices ended higher on August 28 with Nifty crossing its previous record high (25,078.30) and surpassed 25,100 for the first time led by Information Technology and pharma stocks.

At close, the Sensex was up 73.80 points or 0.09 percent at 81,785.56, and the Nifty was up 34.50 points or 0.14 percent at 25,052.30.

Here is how financial markets across the globe fared overnight:

GIFT Nifty (Down)

The GIFT Nifty is trading lower, indicating a negative start for the day. Nifty futures were trading at 25,002.00 at 07:10 am IST.

Asian Equities (Down)

Asian markets were trading lower in the early part of Thursday, with tech stocks dragging South Korean and Taiwanese indexes after chipmaker Nvidia reported its second-quarter results.

US stocks fell on Wednesday ahead of a quarterly report from Nvidia, Wall Street's centerpiece event of the week that could shatter or add fresh fuel to a rally driven by optimism around artificial intelligence.

Shares of the dominant seller of AI processors, due to report after the closing bell, dipped 2.1%, trimming their gain so far this year to 154%.

The S&P 500 declined 0.60% to end the session at 5,592.18 points.

The Nasdaq declined 1.12% to 17,556.03 points, while the Dow Jones Industrial Average declined 0.39% to 41,091.42 points.

The US 10-year Treasury yields were down marginally at 3.83%, while the US 2-year bond yield was down 5 bps at 3.86%.

The dollar steadied on Thursday as it nursed some of its steep losses from previous sessions, with traders looking ahead to a key US inflation reading at the end of the week that could offer further clues on the outlook for rates there.

Asian currencies were trading mostly higher against the US dollar, with the Indonesian Rupiah gaining the most, followed by the Malaysian Ringgit and Thai Baht, while the Philippines Peso, Taiwan Dollar and China Renminbi, traded marginally in the red.

Gold prices were up 0.3 percent at USD 2512.61, while Silver prices were up 0.5 percent at USD 29.28 in the early trade on Thursday.

Oil prices held mostly steady on Thursday as a smaller-than-expected draw in U.S. crude inventories and continued worries over China demand countered supply disruptions out of Libya.

LME commodities slipped in the early trade on Thursday with Zinc down more than 2 percent, while Copper and Lead shed nearly 2 percent each

The foreign institutional investors (FIIs) turned net sellers on August 28 as they sold equities worth Rs 1,347 crore, while domestic institutional investors bought equities worth Rs 439 crore on the same day.

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