Indian benchmark indices Sensex and Nifty are likely to open on a negative note on November 3, with cues coming from GIFT Nifty, which was trading lower at around 25,863.
Track the latest updates on GIFT Nifty right here on Moneycontrol.
Indian benchmark indices ended lower for the second consecutive session on October 31 amid selling seen in the metal, IT, and media names. However, buying in PSU Banks helped to limit the losses.
At close, the Sensex was down 465.75 points or 0.55 percent at 83,938.71, and the Nifty was down 155.75 points or 0.60 percent at 25,722.10. BSE Midcap index slipped 0.5% and Smallcap indices down 0.4%.
Here is how financial markets across the globe fared overnight:
GIFT Nifty (Down)
The GIFT Nifty is trading lower at around 25,863, indicating a negative start for the day.
Asian Equities (Gain)
Asian stocks rose on Monday as investors weighed last week's megacap earnings showing significant spending on artificial intelligence, while the dollar held near a three-month high after hawkish comments from Federal Reserve policymakers.
US Equities (Up)
Wall Street's main stock indexes closed higher on Friday, with their biggest boost coming from Amazon's upbeat earnings forecast, but sentiment was dampened by worries that the Federal Reserve is becoming more cautious about cutting rates.
The Dow Jones Industrial Average rose 40.75 points, or 0.09%, to 47,562.87, the S&P 500 gained 17.86 points, or 0.26%, to 6,840.20, and the Nasdaq Composite gained 143.81 points, or 0.61%, to 23,724.96.
Dollar Index (Up)
The dollar firmed to a near three-month high on Monday as investors awaited the release of data this week to gauge the health of the U.S. economy and determine whether it could alter the Federal Reserve's hawkish stance.
US Bond Yield (Down)
The yield on the US 10-year Treasury was down 2 basis points at 4.07 percent, and the US 2-year Treasury yield was down 3 basis points at 3.57 percent.
Asian Currencies (Down)
Among Asian currencies except the Indonesian Rupiah, all other currencies were trading lower, with the Thai Baht leading the losers, followed by the Malaysian Ringgit, Taiwan Dollar, China Renminbi, South Korean Won, and Japanese Yen.
Crude (Gains)
Oil prices climbed in early Asian trade on Monday after OPEC+ decided to hold off production hikes in the first quarter of next year, easing rising fears of a supply glut.
Gold (Slips)
Gold dropped below $4,000 an ounce after China ended a long-standing tax rebate for some retailers, a change that could hurt demand in one of the largest precious metals markets.
Fund Flow Action
The Foreign Institutional Investors (FIIs) continued their selling on the third straight session as they sold equities of Rs 6769 crore on October 31. However, the Domestic Institutional Investors (DIIs) continued their buying on the 7th consecutive session as they bought equities of over Rs 7000 crore on the same day.
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