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

Market Today

Indian benchmark indices Sensex and Nifty 50 are likely to gain on September 20, tracking cues from GIFT Nifty trading near 25,529.50 , a short while ago this morning.

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

The headline benchmark indices Sensex and Nifty resumed the rally in Thursday's trade and ended higher after hitting record highs on positive global cues following 50 basis point cut by the United States Federal Reserve. Sensex climbed 236.57 points to settle at lifetime high of 83,184.80 while the broader Nifty went up 38.25 points to 25,415.80.

Here is how financial markets across the globe fared overnight:

GIFT Nifty (Up)

The GIFT Nifty is trading higher, indicating a positive start for the day. Nifty futures were trading at 25,529.50 at 07:00 am IST.

Asian Equities (Gain)

Asian markets opened higher on Friday with Japan's Nikkei 225 leading gains, after Wall Street soared overnight following the Federal Reserve's outsized rate cut.

The S&P 500 surged to a record high close on Thursday, the day after the Federal Reserve cut interest rates by 50 basis points and indicated more rate cuts were on the horizon.

The blue chip Dow Jones Industrial Average also registered a record closing high, ending the session above 42,000 for the first time.

The S&P 500 climbed 1.70% to end the session at 5,713.64 points, its highest close ever. The Nasdaq gained 2.51% to 18,013.98 points, while the Dow Jones Industrial Average rose 1.26% to 42,025.19 points.

The US 10-year Treasury yield was down 28 bps at 3.70 percent and the US 2-year bond yield was down 41 bps to 3.56 percent.

The US dollar index was stuck at 100.63 and just above a one-year low.

Except South Korean Won, all other Asian currencies were trading higher in the early trade on Friday. However, on a month-to-date basis, Indonesian Rupiah, Japanese Yen, Thai Baht and Malaysian Ringgit rose 2-4 percent.

Gold price were trading marginally lower at $2,586.30, while the Silver price also down marginally around $30.77.

Oil prices, which were little changed in early Asian trade on Friday, were on track to end higher for a second straight week following a large cut in US interest rates and declining global stockpiles.

All commodities were trading higher in the early trade on Friday, with Copper, Lead and Zinc rose more than 1 percent each.

The foreign institutional investors (FIIs) turned net sellers as they sold equities worth Rs 2547 crore on September 19, while domestic institutional investors extended their buying as they bought equities worth Rs 2012 crore on the same day.

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.