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

Market Today

Indian benchmark indices Sensex and Nifty are likely to see a higher opening on October 29, with cues coming from GIFT Nifty, which was trading firm around 26,138.

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

Indian benchmark indices remained under pressure on October 28 amid selling seen across the sectors, barring metal and banks.

At close, the Sensex was down 150.68 points or 0.18 percent at 84,628.16, and the Nifty 50 was down 29.85 points or 0.11 percent at 25,936.20. BSE Midcap and smallcap indices ended almost flat.

Here is how financial markets across the globe fared overnight:

GIFT Nifty (Gains)

The GIFT Nifty is trading with a gain at around 26,138, suggesting a strong opening for the day.

Asian Equities (Gain)

Asian stocks advanced on optimism that artificial intelligence will continue to drive profits at
megacap technology companies reporting earnings this week, amid growing bets on a Federal Reserve interest-rate cut.

US Equities (Up)

All three major U.S. stock indexes posted record closing highs again on Tuesday as Nvidia shares gained following news it will build artificial intelligence supercomputers for the U.S. energy department, and as investors were optimistic about corporate earnings ahead of key results from megacaps this week.

The Dow Jones Industrial Average rose 161.78 points, or 0.34%, to 47,706.37, the S&P 500 gained 15.73 points, or 0.23%, to 6,890.89, and the Nasdaq Composite gained 190.04 points, or 0.8%, to 23,827.49.

Dollar Index (Flat)

The U.S. dollar hovered close to a one-week low versus major peers on Wednesday ahead of a widely expected interest rate cut from the Federal Reserve later in the day.

US Bond Yield (Flat)

The yields on the US 10-year Treasury and the US 10-year Treasury yield were trading with little change at 3.97 percent and 3.48 percent, respectively.

Asian Currencies (Gain)

Asian currencies were trading mostly higher, with Japanese Yen leading the gainers, followed by Taiwan Dollar, Malaysian Ringgit, China Renminbi, while the Philippines Peso and South Korean Won were trading with marginal losses.

Crude (Up)

Oil prices rose, snapping three straight days of declines as investors considered the impact of U.S. sanctions against Russia's two biggest oil companies on global supply, along with a potential OPEC+ plan to raise output.

Gold (Rises)

Gold steadied after a three-day rout as appetite for riskier assets strengthened on hopes of a US-China trade breakthrough.

Fund Flow Action

The Foreign Institutional Investors (FIIs) bought equities of Rs 10,000 crore on October 28 and turned net buyers for the month. On the other hand, the Domestic Institutional Investors (DIIs) bought equities of Rs 636 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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