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

Oil dipped after a four-day run of gains as the market weighed OPEC+’s decision to pause output hikes

Indian benchmark indices Sensex and Nifty are likely to see a flat opening on November 4, with cues coming from GIFT Nifty, which was trading lower at around 25,892.

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

Benchmark indices ended marginally higher in a rangebound session on November 3, with largecap shares underperforming while the midcap index hit a 52-week high.

The market saw a volatile session, however, buying in realty, telecom, PSU banks helped Nifty recover from the lows of 25,645.50. At close, the Sensex was up 39.78 points or 0.05 percent at 83,978.49, and the Nifty was up 41.25 points or 0.16 percent at 25,763.35. The broader indices outperformed the main indices with BSE Midcap index rising 0.6 percent and smallcap index adding 0.7 percent at close.

Here is how financial markets across the globe fared overnight:

GIFT Nifty (Down)

The GIFT Nifty is trading marginally lower at around 25,892, indicating a flat to negative start for the day.

Asian Equities (Mixed)

Asian stocks opened lower Tuesday after weaker US economic data and uncertainty over the Federal
Reserve’s policy outlook weighed on sentiment.

US Equities (Mixed)

The S&P 500 and the Nasdaq closed higher on Monday, with artificial intelligence-related deals driving much of the gains even as the Federal Reserve's near-term monetary policy grew increasingly foggy due to scarcity of official U.S. economic data.

The Dow Jones Industrial Average fell 226.19 points, or 0.48%, to 47,336.68, the S&P 500 gained 11.77 points, or 0.17%, to 6,851.97 and the Nasdaq Composite gained 109.77 points, or 0.46%, to 23,834.72.

Dollar Index (Up)

The dollar was steady on Tuesday, hovering near a three-month high as a divided Federal Reserve spurred traders to rein in interest rate cut wagers while investors awaited an Australian policy meeting where the central bank is likely to stand pat.

US Bond Yield (Down)

The yield on the US 10-year Treasury and 2-year Treasury were down marginally at 4.10 percent and 3.60 percent, respectively.

Asian Currencies (Slip)

Except Philippines Peso, all other Asian currencies were trading lower with South Korean Won and Taiwan Dollar lost the most.

Crude (Slips)

Oil prices were little changed early on Tuesday as markets weighed OPEC+'s decision to pause output hikes in the first quarter even as concerns over a looming supply glut persisted.

Gold (Down)

Gold steadied as traders digested commentary from Federal Reserve policymakers for clues on the bank’s next move on interest rates.

Fund Flow Action

The selling from Foreign Institutional Investors (FIIs) continued on fourth consecutive day as they sold equities of Rs 1883 crore on November 3. However, the Domestic Institutional Investors (DIIs) continued their buying on the 8th consecutive session as they purchased equities of over Rs 3500 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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