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

Indian benchmark indices Sensex and Nifty are likely open on a muted note on October 3, with cues from GIFT Nifty, which was trading near 24,952.50.

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

Indian benchmark indices snapped 8-day losing streak, ending strong with Nifty above 24,800 after RBI kept the repo rate unchanged, lowered its inflation forecast to 2.6 percent and upward revision of GDP growth projection to 6.8 percent.

In line with the expectations, the Reserve Bank of India’s Monetary Policy Committee (MPC) kept the repo rate unchanged at 5.5 percent with a neutral stance, marking its second consecutive pause after three cuts totalling 100 basis points earlier this year.

The RBI announced a series of measures to expand bank lending to capital markets.

At close, the Sensex was up 715.69 points or 0.89 percent at 80,983.31, and the Nifty was up 225.20 points or 0.92 percent at 24,836.30. BSE Midcap index rose 0.9 percent and smallcap indices added 1%.

Here is how financial markets across the globe fared overnight:

GIFT Nifty (Flat)

The GIFT Nifty is trading flat at around 24,952.50, indicating a muted start for the day.

Asian Equities (Gain)

Asian stocks rose at the open, poised for their fourth gain in five weeks, as optimism around artificial intelligence propelled global equities to fresh records.

US Equities (Up)

Wall Street's three major indexes marked record closing highs with modest gains on Thursday, largely thanks to support from the technology sector, while investors cautiously monitored private labor market data on the second day of a US government shutdown.

The Dow Jones Industrial Average rose 78.62 points, or 0.17%, to 46,519.72. The S&P 500 gained 4.15 points, or 0.06%, to 6,715.35 and the Nasdaq Composite gained 88.89 points, or 0.39%, to 22,844.05.

US Bond Yield (Flat)

The yield on 10-year Treasuries and 2-year Treasuries were trading with little change at 4.08 percent and 3.54 percent, respectively in the early trade on Friday.

Dollar Index (Flat)

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

Asian Currencies (Slip)

Asian currencies were trading mostly lower in the early Friday trade with Taiwan Dollar, South Korean Won, Japanese Yen, Malaysian Ringgit, Philippines Peso, Thai Baht were trading lower, while Indonesian Rupiah, China Renminbi were trading with a gain.

Crude (Gains)

Oil prices rose slightly on Friday after four straight sessions of declines but were on track for their steepest weekly decline since late June due to market expectations that the OPEC+ group could hike output further despite oversupply concerns.

Gold (Flat)

Gold retreated as the dollar pushed higher and investors booked profits after a five-day rally that saw it reach fresh records. Traders also sought clues on the US economy as the government shutdown delayed key data.

Fund Flow Action

The Foreign Institutional Investors (FIIs) sold equities of Rs 1,605 crore on October 1, while Domestic Institutional Investors (DIIs) bought equities of Rs 2916 crore on the same day.

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

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