Indian benchmark indices Sensex and Nifty are likely to see a strong start on September 29, tracking GIFT Nifty, which was hovering around 24,896.50.
Track the latest updates on GIFT Nifty right here on Moneycontrol.
Bears' dominance continued for sixth consecutive session, dragging Nifty below 24,650, intraday, on September 26 amid selling seen across the sectors, especially the pharma names post Trump's 100% tariff on imports of branded or patented pharmaceutical products. IT stocks also plunged on weak growth outlook from Accenture.
At close, the Sensex was down 733.22 points or 0.90 percent at 80,426.46, and the Nifty was down 236.15 points or 0.95 percent at 24,654.70.
Here is how financial markets across the globe fared overnight:
GIFT Nifty (Gains)
The GIFT Nifty is trading higher at around 24,827.50, indicating a strong start for the day.
Asian Equities (Mixed)
Asian markets were trading mixed in the early trade on Monday with Topix down 1.6 percent, while Kospi up 1.4 percent.
US Equities (Up)
Gains in Wall Street indexes on Friday were not enough to erase a loss for the week while resilient consumer spending supported longer-dated Treasury yields and gold rose as a steady inflation reading supported bets on future Federal Reserve rate cuts.
The Dow Jones Industrial Average rose 0.65%, the S&P 500 rose 0.59% and the Nasdaq Composite was up 0.44%.
US Bond Yield (Flat)
The yield on 10-year Treasuries down 2 basis points at 4.16 percent, while 2-year Treasuries were down 1 basis points at 3.62 percent.
Dollar Index (Flat)
The dollar index was steady around t 98. having benefited from the batch of better economic news last week. The euro held at $1.1708, in the lower half of its recent $1.1646 to $1.1918 range.
Asian currencies (Gain)
Except China Renminbi, all other Asian currencies gained in the early trade on Monday with South Korean Won leading the gainers followed by Malaysian Ringgit, Indonesian Rupiah, Taiwan Dollar, Japanese Yen.
Crude (Slips)
Oil prices slipped nearly 1% on Monday after Iraq's Kurdistan region resumed crude oil exports via Turkey over the weekend and as OPEC+ plans another oil output hike in November, adding to global supplies.
Gold (Gains)
Gold edged higher — after notching a sixth weekly gain — as traders weighed a potential US government shutdown that could delay the release of pivotal jobs data this week and potentially cloud the Federal Reserve’s monetary policy path.
Fund Flow Action
The Foreign institutional investors (FIIs) continued their selling on their fifth straight session on September 26 as they sold equities worth Rs 5687 crore, while Domestic institutional investors (DIIs) purchased equities of Rs 5843 crore on the same day.
Hope you're all set for today's trade. We wish you a profitable day ahead.
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