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

Asian markets were trading mixed in the early trade after Wall Street’s pullback from record highs sparked caution among investors

Indian benchmark indices Sensex and Nifty are likely to open on a flat note today, with cues from GIFT Nifty, which was trading near 25,221.

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

The Indian benchmark indices erased some of the intraday gains but managed to close on a positive note for the fourth consecutive session on October 7 with Nifty closing above the 25,100 amid buying seen in the auto, consumer durables, oil & gas, energy, realty names.

At close, the Sensex was up 136.63 points or 0.17 percent at 81,926.75, and the Nifty was up 30.65 points or 0.12 percent at 25,108.30. BSE Midcap index added 0.4% and smallcap index was ended marginally lower.

The GIFT Nifty is trading flat at around 25,221, indicating a muted start for the day.

Asian markets were trading mixed in the early trade after Wall Street’s pullback from record highs sparked caution among investors.

US stocks closed lower on Tuesday as investors, deprived of economic data resulting from the shuttered government, looked to secondary indicators and remarks from US Federal Reserve officials for clues regarding economic weakness and monetary policy.

All three indexes ended in negative territory after a consumer expectations survey from the New York Federal Reserve showed deteriorating future expectations and rising inflation projections. The report garnered increased scrutiny amid a federal data blackout resulting from a partisan congressional impasse that extended the government shutdown to its seventh day.

The Dow Jones Industrial Average fell 91.99 points, or 0.20%, to 46,602.98, the S&P 500 lost 25.69 points, or 0.38%, to 6,714.59 and the Nasdaq Composite lost 153.30 points, or 0.67%, to 22,788.36.

The yield on 10-year Treasuries were up 5 basis points at 4.12 percent, while the 2-year Treasuries little change at 3.55 percent.

The U.S. dollar rose to its strongest levels in six weeks in early Asian trading on Wednesday as risks around the U.S. government shutdown intensified, sparking fresh investor worries and boosting demand for safe haven assets.

Asian currencies were trading mostly lower in the early trade on Wednesday with Japanese Yen leading the losers followed by Malaysian Ringgit, Singapore Dollar, Philippines Peso, South Korean Won.

Oil prices edged higher in early trade on Wednesday as markets started to brush off oversupply fear for the time being, having digested a decision by OPEC+ to restrain November production increases.

Gold hit a record high just below $4,000 an ounce as the US government shutdown, a wobble in technology stocks, and political shake-ups in Japan and France buoyed demand.

After remaining net sellers in the previous 10 sessions, the Foreign Institutional Investors (FIIs) turned net buyers on October 7 as they purchased equities of Rs 1440 crore, while Domestic Institutional Investors (DIIs) bought equities of Rs 452 crore on the same day.

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