Indian benchmark indices Sensex and Nifty are likely to see a muted start on October 31, with cues coming from GIFT Nifty, which was trading with little change around 26,042.50.
Track the latest updates on GIFT Nifty right here on Moneycontrol.
After opening under the 26,000 mark, the benchmark index Nifty 50 gave way to selling pressure, while the 30-share Sensex pack tumbled 500 points on October 30. Globally, sentiment remained cautious after the U.S. Federal Reserve cut rates by 25 basis points while signaling the possibility of a pause in further easing this year.
The Nifty struggled to hold higher levels, with persistent selling dragging it lower, leading the index to close at 25,877.85 - down 176.05 points or 0.68 percent. Meanwhile, Sensex closed at 84,404.46, lower by 592.67 points or 0.70 percent on its monthly expiry.
Here is how financial markets across the globe fared overnight:
GIFT Nifty (Flat)
The GIFT Nifty is trading flat at around 26,042.50, suggesting a muted start for the day.
Asian Equities (Gain)
Asian equities climbed close to their record and US equity-index futures advanced as strong earnings from Amazon.com Inc. and Apple Inc. lifted sentiment after a brief pause in the global stock rally.
US Equities (Slip)
Wall Street's three major indexes lost ground on Thursday with the Nasdaq Composite and the S&P 500 leading losses as Meta and Microsoft shares tumbled on worries over surging AI spending, while investors also digested a more hawkish tone from the U.S. Federal Reserve.
The Dow Jones Industrial Average fell 109.88 points, or 0.23%, to 47,522.12, the S&P 500 lost 68.25 points, or 0.99%, to 6,822.34 and the Nasdaq Composite lost 377.33 points, or 1.57%, to 23,581.14.
Dollar Index (Down)
The U.S. dollar held its ground in early Asian trade on Friday after reaching a three-month high as traders processed mixed signals from this week's central bank decisions, tech sector earnings and a tentative U.S.-China tariff truce.
US Bond Yield (Down)
The yields on the US 10-year Treasury were down marginally at 4.09 percent and the US 2-year Treasury yield were down 1 basis point at 3.59 percent.
Asian Currencies (Gain)
Asian currencies were trading mostly higher in the early Friday trade. However, on year-to-date basis, except Indonesian Rupiah (down 3 percent), Philippines Peso (Down 1.5 percent), all other currencies added between 2-6 percent.
Crude (Down)
Oil prices eased on Friday, heading for a third straight monthly decline, as a stronger dollar capped commodities gains while rising supply from major producers globally offset the impact of Western sanctions on Russian exports.
Gold (Up)
Gold consolidated gains from a day earlier, holding above USD 4,000 an ounce as traders weighed a US-China trade truce that failed to quash concerns about long-term competition between the world’s two largest economies.
Fund Flow Action
The Foreign Institutional Investors (FIIs) extended their selling on second day as they sold of Rs 3150 crore on October 30. However, the Domestic Institutional Investors (DIIs) continued their buying on sixth consecutive session as they bought equities of Rs 2577 crore on the same day.
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