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

Indian markets declined on November 4 due to sustained foreign investor selling and weaker-than-expected September quarter earnings.

Indian benchmark indices Sensex and Nifty 50 are likely to see a weak start on November 5, tracking cues from GIFT Nifty trading around 24,060, a short while ago this morning.

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

Indian markets declined on November 4 due to sustained foreign investor selling and weaker-than-expected September quarter earnings.

At the close, the Sensex fell by 1.2 percent or 942 points to 78782.24, while the Nifty dropped 1.27 percent or 309 points to 23995.35. Broader indices also declined, with the BSE MidCap and SmallCap indices down by 1.3 percent and 1.65 percent, respectively.

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 24,060 at 07:00 am IST.

Asian Equities (Mixed)

Asian equities were softer in early trading amid increasing risk-off sentiment, as the clock ticks down to a tight US election and the Federal Reserve rate decision.

US stocks closed slightly lower after a choppy session on Monday, as investors prepared for a crucial week in which Americans will elect a new president and the Federal Reserve will announce its policy statement.

The Dow Jones Industrial Average fell 257.59 points, or 0.61%, to 41,794.60, the S&P 500 lost 16.11 points, or 0.28%, to 5,712.69 and the Nasdaq Composite lost 59.93 points, or 0.33%, to 18,179.98.

US 10-Year Treasury rose 42 bps at 4.30 percent, while US 2-Year Treasury was up 25 bps at 4.17 percent in the early trade on Tuesday.

The dollar dropped against all of its major peers as traders pared bets on Republican Donald Trump prevailing in the US presidential election.

Except China Renminbi, all other Asian currencies were trading lower in the early trade on Tuesday. On year-to- date basis Japanese Yen lost the most, followed by Philippines Peso and Taiwan Dollar.

Oil prices were trading with marginal losses on Tuesday after climbing nearly 3 percent on Monday on OPEC+'s decision for a month's delay in plans to increase output, while investors also focused on the U.S. presidential election.

Gold was steady as the market braced for a tight US election, and a Federal Reserve rate decision later in the week.

The LME commodities price were trading mixed in the early trade on Tuesday with Copper rose more than 1 percent and Aluminium was up 0.7 percent. On the other hand, Lead and Zinc prices shed 1 percent each.

The foreign institutional investors (FIIs) sold equities worth Rs -211.93 crore on November 4, while domestic institutional investors bought equities worth Rs 377.33 crore on the same day.

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