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

Stock Market Today

Indian benchmark indices Sensex and Nifty are likely to open on a positive note on September 17,  tracking GIFT Nifty, which was hovering around 25,398.50.

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

After a subdued previous session, the bulls were back in action on September 16, helping Nifty to reclaim 25,200 for the first time since August 23, led by buying across the sectors.

At close, the Sensex was up 594.95 points or 0.73 percent at 82,380.69, and the Nifty was up 169.90 points or 0.68 percent at 25,239.10. Broader indices performed in line with the main indices, with BSE Midcap and smallcap indices rising 0.6% each.

Here is how financial markets across the globe fared overnight:

GIFT Nifty (Gains)

The GIFT Nifty is trading higher at around 25,398.50, indicating a positive opening for the day.

Asian Equities (Down)

Asian stocks posted a modest drop at the open following a tepid Wall Street session, as investors held back ahead of Wednesday’s Federal Reserve interest-rate decision.

US Equities (Down)

Wall Street's three main stock indexes ended lower in choppy trading on Tuesday as caution set in ahead of an anticipated interest rate cut from the Federal Reserve.

The Dow Jones Industrial Average fell 125.55 points, or 0.27%, to 45,757.90, the S&P 500 lost 8.52 points, or 0.13%, to 6,606.76, and the Nasdaq Composite lost 14.79 points, or 0.07%, to 22,333.96.

US Bond Yield (Up)

The yield on 10-year Treasuries and 2-year Treasuries were trading with marginal gains at 4.03% and 3.5%.

Dollar Index (Up)

The U.S. dollar loitered near four-year lows against the euro and a one-month trough against the yen on Wednesday, as traders geared up for a near-certain interest rate cut from the Federal Reserve later in the session.

Asian currencies (Mixed)

Asian currencies were trading mixed in the early Wednesday trade, with the Thai Baht, Indonesian Rupiah, South Korean Won, Japanese Yen, and Singapore Dollar trading with marginal losses, while the Philippines Peso, Taiwan Dollar, China Renminbi, and Malaysian Ringgit were trading in the green.

Crude (Flat)

Oil prices held steady in early trading on Wednesday, after rising more than 1% in the previous session on drone attacks on Russian ports and refineries, while traders awaited an expected rate cut from the U.S. Federal Reserve.

Gold (Flat)

Gold traded around the $3,700-an-ounce level, after briefly breaching the mark in the prior session, buoyed by a softer dollar.

Fund Flow Action

The Foreign institutional investors (FIIs) purchased equities worth Rs 308 crore on September 16, while Domestic institutional investors (DIIs) extended their buying in this month as they  bought equities worth Rs 1518 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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