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

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• Sensex and Nifty likely to open lower, tracking GIFT Nifty losses
• Asian and US equities fell amid Middle East tensions
• FIIs sold equities worth Rs 5518 crore, DIIs bought Rs 5706 crore

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Indian equity benchmarks, the BSE Sensex and Nifty 50, are likely to open on a negative note on March 23, tracking losses in GIFT Nifty, which was trading lower at 22,822.50.

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

After witnessing a sharp decline in the previous session, Indian equity indices staged a strong rebound on March 20, supported by broad-based buying across sectors.

At close, the Sensex was up 325.72 points or 0.44 percent at 74,532.96, and the Nifty was up 112.35 points or 0.49 percent at 23,114.50.

GIFT Nifty (Slips)

The GIFT Nifty traded weak at around 22,822.50, indicating a gap-down opening for the Indian equity indices.

Asian Equities (Down)

Share markets slid in Asia on Monday while U.S. bond yields hit eight-month peaks as the United States and Iran traded escalating threats and Israel planned for "weeks" more fighting, sending oil prices on another roller-coaster ride.

US Equities (Down)

Wall Street ended sharply lower on Friday, with the S&P 500 closing at its lowest in six months, as the U.S.-Israeli war against Iran entered its fourth ​week, deepening worries about inflation and the potential for higher interest rates.

The S&P 500 declined 1.51% ​to end the session at 6,506.48 points, its lowest since September.

The Nasdaq slumped 2.01% to 21,647.61 points, leaving it down almost 10% from its record high ​close on October 29.

The Dow Jones Industrial Average declined 0.96% to 45,577.47 points.

Dollar Index (Up)

The dollar was poised for a rebound on Monday as retaliatory threats escalated in the Middle East crisis, damping risk sentiment and boosting demand for haven assets.

US Bond Yield (Up)

The US Treasury 10-year yield and 2-year US Treasuries yield were up marginally at 4.38% and 3.90%, respectively

Asian Currencies (Slip)

Except Indonesian Rupiah, all other Asian currencies were trading lower in the early Monday trade with Philippines Peso leading the losers followed by South Korean Won, Malaysian Ringgit, Taiwan Dollar.

Crude (Flat)

Oil prices were again choppy with early gains quickly fizzling out, leaving Brent down 0.2% at $111.90 a barrel, but still up 55% on the month so far. U.S. crude was near flat at $98.35.

Gold (slips)

Gold fell sharply and was close to wiping out this year’s gains, as the war in the Middle East entered its fourth week and the US and Iran traded threats of new attacks.

Fund Flow Action

Foreign Institutional Investors (FIIs) continued their selling on March 20, as they offloaded equities worth Rs 5518 crore, however, Domestic Institutional Investors (DIIs) bought equities worth Rs 5706 crore.

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

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