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

Market Tdoay

Indian benchmark indices Sensex and Nifty are likely to see a weak start today, with cues coming from GIFT Nifty, which was trading flat around 25,611.50.

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

Benchmark equity indices extended their gaining streak for a second day, as Nifty surpassed 25,600 during the session on October 16 for the first time since June 27, supported by broad-based buying that helped the test four-month highs despite a last-hour profit booking.

At close, the Sensex was up 862.23 points or 1.04 percent at 83,467.66, and the Nifty was up 261.75 points or 1.03 percent at 25,585.30. The BSE midcap index rose 0.3 percent and smallcap index added 0.4 percent.

Here is how financial markets across the globe fared overnight:

GIFT Nifty (Down)

The GIFT Nifty is trading lower at around 25,611.50, indicating a weak opening for the day.

Asian Equities (Down)

Asian shares slipped after risk sentiment dimmed on Wall Street as bad loans at two US banks heightened concerns about the credit market.

US Equities (Slip)

Wall Street closed lower on Thursday, with signs of weakness in regional banks spooking investors already on edge over U.S.-China trade tensions.

The S&P 500 declined 0.63% to end the session at 6,629.07 points.

The Nasdaq declined 0.47% to 22,562.54 points, while the Dow Jones Industrial Average declined 0.65% to 45,952.24 points.

Dollar Index (Down)

The dollar remained on the back foot on Friday as global trade frictions and signs of weakness in the U.S. economy supported the case for more rate cuts by the Federal Reserve.

US Bond Yield (Down)

The US 10-year Treasury was down 2 basis points at 3.95 percent, while US 10-year Treasury was down marginally at 3.41 percent.

Asian Currencies (Rise)

Except Indonesian Rupiah, South Korean Won, Thai Baht, all other Asian currencies were trading higher in the early Friday trade.

Crude (Down)

Oil prices edged lower in early trade on Friday, heading for a weekly loss, with uncertainty over global energy supplies after U.S. President Donald Trump and Russian President Vladimir Putin agreed to meet in Hungary to discuss ending the war in Ukraine.

Gold (Gains)

Gold and silver rose to record highs as fears about credit quality in the US economy and heightened
frictions between Washington and Beijing strengthened demand for havens.

Fund Flow Action

The Foreign Institutional Investors (FIIs) extended their buying on second day as they bought equities of Rs 997 crore on October 16, while Domestic Institutional Investors (DIIs) bought equities of more than Rs 4000 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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