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

Market Today

Indian equity benchmarks — the BSE Sensex and Nifty 50 — are expected to open on a positive note on March 17, supported by firm global cues and gains in GIFT Nifty, which was trading higher near 23,521.50.

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

After a three-day losing streak, Indian benchmark indices staged a strong rebound in a volatile session, with the Nifty 50 closing comfortably above the 23,400 mark, led by gains in auto, banking, and FMCG stocks.

At close, the Sensex was up 938.93 points or 1.26 percent at 75,502.85, and the Nifty was up 257.70 points or 1.11 percent at 23,408.80.

GIFT Nifty (Gains)

The GIFT Nifty traded higher at around 23,521.50, indicating a firm start for the Indian equity markets.

Asian Equities (Up)

Asian equities rose at the open after optimism that more tankers would be able to pass through the crucial Strait of Hormuz lifted gauges on Wall Street.

US Equities (Rise)

Wall Street ended sharply higher on Monday, fueled by gains in AI-related stocks, with Meta Platforms climbing after a ​report that it is preparing for sweeping layoffs, while oil prices retreated amid ongoing uncertainty about the Middle East conflict.

The S&P 500 climbed 1.01% to end the session at 6,699.38 points, its strongest one-day gain in over a month.

The Nasdaq gained 1.22% to 22,374.18 points, while the Dow Jones Industrial Average rose 0.83% to 46,946.41 points.

Dollar Index (Up)

The dollar held steady after its biggest loss in more than a month as Monday’s dip in oil prices tempered inflation concerns.

US Bond Yield (Up)

The US Treasury 10-year yield up more than 1 basis point to 4.23%, while 2-year US Treasuries up marginally at 3.67%.

Asian Currencies (Mixed)

Asian currencies were trading mixed in the early trade on Tuesday, with the Thai Baht losing the most, while the Chinese Renminbi, the Philippines Peso, and the Taiwan Dollar were trading higher.

Crude (Up)

Oil prices rose more than 2% in early trade on Tuesday, reversing some of the previous session's losses, on worries about supply with the Strait of Hormuz mostly shut and U.S. allies rebuffing calls to send warships to help tankers move through the vital waterway.

Gold (Flat)

Gold was little changed, after the US dollar slipped and traders weighed attempts to contain an oil-supply shock arising from the war in the Middle East.

Fund Flow Action

On March 16, the Foreign Institutional Investors (FIIs) sold equities worth over Rs 9,365 crore, while Domestic Institutional Investors (DIIs) bought equities of Rs 12,593 crore.

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

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