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

Indian equity market ended higher for the second consecutive session on September 17

Indian benchmark indices Sensex and Nifty are likely to see a positive start today,  tracking GIFT Nifty, which was hovering around 25,499.

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

Indian equity market ended higher for the second consecutive session on September 17 with Nifty comfortably closing above 25,300 amid buying seen in the auto, PSU bank, IT, oil & gas names. Hopes of renewed India-US trade talks and expectation of Fed rate cut tonight also added fuel to the rally.

At close, the Sensex was up 313.02 points or 0.38 percent at 82,693.71, and the Nifty was up 91.15 points or 0.36 percent at 25,330.25.

GIFT Nifty (Up)

The GIFT Nifty is trading higher at around 25,499, indicating a positive start for the day.

Asian Equities (Gain)

Asian markets were trading firm with Japan’s Nikkei 225 rose 0.6% to a fresh record Thursday.

US Equities (Mixed)

The Nasdaq and the S&P 500 closed lower in choppy trading on Wednesday, after the U.S. Federal Reserve cut interest rates by an expected 25 basis points and Fed Chair Jerome Powell cited the weak job market.

The Dow Jones Industrial Average rose 260.42 points, or 0.57%, to 46,018.32, the S&P 500 lost 6.41 points, or 0.10%, to 6,600.35 and the Nasdaq Composite lost 72.63 points, or 0.32%, to 22,261.33.

US Bond Yield (Down)

The yield on 10-year Treasuries and 2-year Treasuries were trading marginally lower at 4.07% and 3.53%.

Dollar Index (Up)

The dollar rose for a second day with Fed Chair Jerome Powell terming the move a

“risk-management cut.”

Asian currencies (Down)

Asian currencies were trading mostly lower in the early trade on Thursday, with Indonesian Rupiah and China Renminbi were up marginally. ON year-to-date basis, except Indonesian Rupiah, all other currencies were trading with a gain of 1-9 percent.

Crude (Slips)

Oil prices were little changed on Thursday after the U.S. central bank lowered its key interest rate as widely expected, while an indication of more rate cuts before year-end raised the prospect of a demand boost spurred by falling borrowing costs.

Gold (Flat)

Gold held a decline, after it slipped from a fresh record in the previous session following the Federal

Reserve’s much-anticipated announcement to cut interest rates.

Fund Flow Action

The Foreign institutional investors (FIIs) offloaded equities worth Rs 1124 crore on September 17, while Domestic institutional investors (DIIs) purchased equities worth Rs 2293 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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