First Tick: Top global cues to watch in today’s trade

Nifty outlook for February 25

Indian equity benchmarks, Sensex and Nifty, are likely to open with a positive bias on February 25, following gains in GIFT Nifty, which was trading higher at around 25,671.

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

Indian benchmark indices snapped a two-day gaining streak on February 24 (Monthly Nifty F&O expiry), ending sharply lower with the Nifty closing below 25,450, led by weakness in information technology shares amid concerns over AI-led disruption.

At close, the Sensex was down 1,068.74 points or 1.28 percent at 82,225.92, and the Nifty was down 288.35 points or 1.12 percent at 25,424.65.

GIFT Nifty (Up)

The GIFT Nifty was trading higher at around 25,671, indicating a positive start for the domestic benchmarks in the upcoming session.

Asian Equities (Gain)

Asian stocks opened higher after a rally in technology shares lifted Wall Street benchmarks, tempering concern about the disruptive effects of artificial intelligence that had rattled markets for weeks.

US Equities (Rise)

Wall Street closed higher on Tuesday, with tech stocks leading the charge as renewed enthusiasm for artificial intelligence offset concerns over potential disruptions caused by the nascent technology.

The Dow Jones Industrial Average rose 370.44 points, or 0.76%, to 49,174.50, the S&P 500 gained 52.32 points, or 0.77%, to 6,890.07 and the Nasdaq Composite gained 236.41 points, or 1.05%, to 22,863.68.

Dollar Index (Flat)

The dollar index was little changed against the other major currencies in the early trade on Wednesday.

US Bond Yield (Flat)

Treasuries were a touch lower with the yield on the benchmark 10-year rising almost one basis point to 4.03%, while the yield on the benchmark 2-year was down marginally at 3.45%.

Asian Currencies (Mixed)

Asian currencies traded on a mixed note in early Wednesday deals, with the Indonesian rupiah, South Korean won, Malaysian ringgit and Philippine peso weakening against the US dollar. On the other hand, the Taiwan dollar, Thai baht, Chinese renminbi and Japanese yen edged higher in early trade.

Crude (Gains)

Oil prices were hovering near seven-month highs on Wednesday as the threat of military conflict between the U.S. and Iran that could disrupt supply continues to worry investors even as talks between the parties are set for Thursday.

Gold (Up)

Gold prices were broadly unchanged on Wednesday, after falling more than 1% in the previous session, as the dollar held on to recent gains and made greenback-priced metals more expensive for overseas buyers.

Fund Flow Action

On February 24, Foreign Institutional Investors (FIIs) remained net sellers, offloading equities worth ₹102 crore, while Domestic Institutional Investors (DIIs) provided support to the market by purchasing equities worth ₹3,161 crore.

Hope you're all set for today's trade. We wish you a profitable day ahead.

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