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

Asian equities retreated at the open after a rally in US stocks stalled amid concern valuations may have become stretched following their relentless surge.

Indian benchmark indices Sensex and Nifty are likely to open on a flat to negative note on October 10, with cues from GIFT Nifty, which was trading near 25,240..

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

Indian benchmark indices erased previous session losses to end higher with Nifty finishing near 25,200 on October 9, led by buying across the sectors.

At close, the Sensex was up 398.44 points or 0.49 percent at 82,172.10, and the Nifty was up 135.65 points or 0.54 percent at 25,181.80. BSE Midcap index jumped 0.75%, while smallcap index ended flat.

Here is how financial markets across the globe fared overnight:

GIFT Nifty (Down)

The GIFT Nifty is trading marginally lower at around 25,240, indicating a flat to negative start for the day.

Asian Equities (Mixed)

Asian equities retreated at the open after a rally in US stocks stalled amid concern valuations may have become stretched following their relentless surge.

US Equities (Fall)

US stocks ended in negative territory on Thursday as investors, left with no economic data or any sentiment-swaying catalysts, took the opportunity to consolidate ahead of third-quarter earnings season.

The Dow Jones Industrial Average fell 243.36 points, or 0.52%, to 46,358.42, the S&P 500 lost 18.61 points, or 0.28%, to 6,735.11 and the Nasdaq Composite lost 18.75 points, or 0.08%, to 23,024.63.

US Bond Yield (Down)

The yield on 10-year Treasuries and 2-year Treasuries were trading marginally lower in the early trade at 4.13 percent and 3.58 percent, respectively.

Dollar Index (Up)

The dollar index, which measures the U.S. currency against six other units, at 99.4, near a two-month high. The index is on course for a 1.7% gain, its biggest jump in a year.

Asian Currencies (Mixed)

Asian currencies were trading mixed in the early trade on Friday with Taiwan Dollar, Philippines Peso, China Renminbi, Malaysian Ringgit were trading with marginal losses, while South Korean Won, Singapore Dollar, Japanese Yen were trading higher

Crude (Up)

Oil prices were little changed in early Asian trade on Friday after falling more than 1% in the previous session, as the market's war risk premium faded after Israel and Hamas agreed to the first phase of a plan to end the war in Gaza.

Gold (Up)

Gold edged higher, and silver surged above USD 50 an ounce for the first time in decades, feeding off the recent record rally in gold amid the combination of animal spirits, inflation hedging and currency debasement.

Fund Flow Action

The buying from Foreign Institutional Investors (FIIs) continued on third consecutive session on October 9 as they bought equities of Rs 1308 crore, while Domestic Institutional Investors (DIIs) bought equities of Rs 864 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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