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

Nifty Trade setup for March 18

Indian equity benchmarks, the BSE Sensex and Nifty 50, are expected to open with marginal gains on March 18, tracking gains in GIFT Nifty, which was trading higher at 23,643.

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

Indian equity benchmarks extended the previous session’s momentum on March 17, with the Nifty 50 closing comfortably above 23,550, amid buying across the sectors barring FMCG, IT names.

At close, the Sensex was up 567.99 points or 0.75 percent at 76,070.84, and the Nifty was up 172.35 points or 0.74 percent at 23,581.15.

Here is how financial markets across the globe fared overnight:

GIFT Nifty (Up)

The GIFT Nifty traded higher at around 23,643, indicating a flat to positive start for the Indian equity markets.

Asian Equities (Rise)

Asian equities rose while oil edged lower, suggesting investors are trying to look past near-term geopolitical uncertainty and find a measure of stability in markets.

US Equities (Gain)

Wall Street ended higher on Tuesday, with gains in Delta Air Lines and other travel stocks, while the Federal Reserve began its ​two-day policy meeting amid investors' worries about high oil prices and the Middle East conflict.

The S&P 500 climbed 0.25% to end the session at 6,716.09 points.

The Nasdaq gained 0.47% to 22,479.53 points, while the Dow Jones Industrial Average rose 0.10% to 46,993.26 points.

Dollar Index (Flat)

The dollar held losses on Wednesday as a glimmer of risk appetite came back to markets ahead of a slate of key central bank decisions.

US Bond Yield (Flat)

Treasuries were little changed with the yield on the benchmark 10-year at 4.20%,

suggesting easing inflation concerns.

Asian Currencies (Up)

Asian currencies were trading mostly higher in the early Wednesday trade, with the Philippine Peso gaining the most, followed by the Malaysian Ringgit and the Taiwan Dollar.

Crude (Slips)

Brent crude fell around 1% to trade below $103 a barrel, even as Iran confirmed the death of its security chief in a further intensification of the Middle East war.

Gold (Up)

Gold traded in a narrow range as investors weighed the Federal Reserve’s rate-cut path against inflationary risks from the war in the Middle East.

Fund Flow Action

Foreign Institutional Investors (FIIs) extended their selling spree on March 17, offloading equities worth over ₹4,741 crore. In contrast, Domestic Institutional Investors (DIIs) remained net buyers, purchasing equities worth around ₹5,225 crore.

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

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