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

The GIFT Nifty is trading with a gain at around 25,454, indicating a firm opening for the day.

Indian benchmark indices Sensex and Nifty are likely to see a strong start on October 16, with cues from GIFT Nifty, which was trading flat near 25,454.

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

Benchmark indices snapped a two-day losing streak to end at one-month high as bulls returned on October 15 to help Nifty 50 close above 25,300 amid broad-based buying.

At close, the Sensex was up 575.45 points or 0.70 percent at 82,605.43, and the Nifty was up 178.05 points or 0.71 percent at 25,323.55. BSE midcap index added one percent and smallcap index jumped 0.7 percent.

Here is how financial markets across the globe fared overnight:

GIFT Nifty (Rises)

The GIFT Nifty is trading with a gain at around 25,454, indicating a firm opening for the day.

Asian Equities (Gain)

Asian stocks rose after US equities closed higher in a volatile session as investors weighed renewed US- China trade tensions. Gold advanced to a fresh all-time high.

US Equities (Up)

The S&P 500 ended higher on Wednesday, with Morgan Stanley and Bank of America rallying after solid quarterly results, while investors remained focused on the recent increase in China-U.S. trade tensions.

The S&P 500 climbed 0.40% to end the session at 6,671.06 points.

The Nasdaq gained 0.66% to 22,670.08 points, while the Dow Jones Industrial Average declined 0.04% to 46,253.31 points.

Dollar Index (Down)

The U.S. dollar slipped on Thursday as the Sino-U.S. trade war sapped investor sentiment, while growing confidence of the U.S. Federal Reserve cutting its policy interest rate this year also weighed on the greenback.

US Bond Yield (Down)

The treasuries were little changed after two-year yields fell toward their lowest level this year in the US session.

Asian Currencies (Gain)

Except Taiwan Dollar, all other Asian currencies were trading higher in the early trade on Thursday. However, on the year-to-date basis, Taiwan Dollar gain the most followed by Malaysian Ringgit, Singapore Dollar, Thai Baht.

Crude (Gains)

Oil prices rose by around 1% in early trade on Thursday after U.S. President Donald Trump said Indian Prime Minister Narendra Modi had pledged his country would stop buying oil from Russia, which supplies about one-third of its imports.

Gold (Up)

Gold rose to a record as heightened US-China frictions and bets the Federal Reserve will press on with monetary easing through the end of the year supported demand.

Fund Flow Action

The Foreign Institutional Investors (FIIs) bought equities of Rs 68 crore on October 15, while Domestic Institutional Investors (DIIs) bought equities of Rs 4650 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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