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

Market Today

Indian equity benchmarks, the Sensex and Nifty, are likely open on a firm note on March 10, tracking gains in GIFT Nifty, which was trading higher at around 24,412.50 in early indications.

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

Indian equity markets continued the Friday's sell-off amid rising geopolitical disruptions, which pushed biggest jump in crude oil prices since 2020. Weak global markets and rupee hitting new low also weighed on investor sentiment. Meanwhile, buying at lower levels helped to trimmed some of the intraday losses as crude recovered.

At close, the Sensex settled at 77,566.16, down 1,352.74 points or 1.71 percent, after hitting low of 76,424.55, while Nifty also recovered from day’s low of 23,697.80 to end at 24,028.05, down 422.40 points or 1.73 percent.

GIFT Nifty (Gains)

The GIFT Nifty traded higher at around 24,412.50, signalling a strong opening for the Indian equity markets.

Asian Equities (Up)

Asian stocks rebounded after Monday’s selloff and crude oil fell, as President Donald Trump signaled the Iran war may be nearing an end, offering markets a brief reprieve from selling.

US Equities (Gain)

Wall Street stocks clawed their way back from a steep selloff to close higher on Monday, notching a final-hour rebound after ‌U.S. President Donald Trump suggested that the U.S.-Israeli war on Iran could be close to ending.

The Dow Jones Industrial Average rose 239.25 points, or 0.50%, to 47,740.80, the S&P 500 gained 55.97 points, or 0.83%, to 6,795.99 and the Nasdaq Composite gained 308.27 points, or 1.38%, to ​22,695.95.

Dollar Index (Down)

The dollar traded weaker late in the New York session after President Donald Trump told CBS that the Iran war is “very complete, pretty much.” The Australian and New Zealand dollars were outperforming peers in the Group of 10 against the greenback.

US Bond Yield (Up)

The yield on 10-year US Treasuries jumped more than 1 basis points at 4.1 percent, and 2-year US Treasuries gained 2 basis points at 3.55%.

Asian Currencies (Mixed)

Asian currencies were trading mixed in early Tuesday trade, with the Malaysian ringgit gaining the most, followed by the Philippine peso, South Korean won, and Taiwan dollar.

Crude (Slips)

Oil prices fell on Tuesday after hitting their highest level in more than three years in the prior session as US President Donald Trump predicted the war in the Middle East could end soon, easing concerns about prolonged disruptions to global oil supplies.

Gold (Up)

Gold steadied, after the US dollar retreated on comments by President Donald Trump that the war in the Middle East could be nearing an end.

Fund Flow Action

Foreign Institutional Investors (FIIs) continued their selling on 7th straight session on March 9, as they sold equities worth of Rs 6,345 crore, while Domestic Institutional Investors (DIIs) bought shares worth of Rs 9,000 crore.

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

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