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

The GIFT Nifty is trading higher at around 26,180, indicating a strong start for the day.

Indian benchmark indices, Sensex and Nifty are likely to open on a positive note November 24, with cues coming from GIFT Nifty, which was trading higher at around 26,180.

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

The Indian markets snapped two-day gaining streak and ended lower in a volatile session on November 21, with Nifty falling below 26,100 amid selling across the sectors.

At close, the Sensex was down 400.76 points or 0.47 percent at 85,231.92, and the Nifty was down 124 points or 0.47 percent at 26,068.15.

GIFT Nifty (Up)

The GIFT Nifty is trading higher at around 26,180, indicating a strong start for the day.

Asian Equities (Up)

Asian shares were trading higher with Taiwan Weighted and Kospi up 1% each. Japan markets is closed for a holiday.

US Equities (Gain)

US stocks rallied on Friday as investors increased bets that the Federal Reserve will cut interest rates next month, while all three of the major indexes posted losses for the week amid concerns over lofty technology valuations.

The Dow Jones Industrial Average rose 493.15 points, or 1.08%, to 46,245.41, the S&P 500 gained 64.23 points, or 0.98%, to 6,602.99 and the Nasdaq Composite gained 195.04 points, or 0.88%, to 22,273.08.

For the week, the Dow was down 1.9%, the S&P 500 was down about 2% and the Nasdaq was down 2.7%. Also, the small-cap Russell 2000 index fell for a fourth straight week in its longest run of weekly losses since March.

Dollar Index (Up)

The dollar was steady and traders wary on Monday as intervention risks swirled around the yen, with the gilt market on edge ahead of a British budget in a holiday-interrupted week where a New Zealand policy meeting is also expected to deliver a rate cut.

US Bond Yield (Down)

The yield on 10-year Treasuries and 2-year Treasuries were down more than 2 basis points at 4.06 percent and 3.50 percent, respectively.

Asian Currencies (Gain)

Asian currencies were trading mostly higher in the early trade on Monday with Japanese Yen leading the gainers, followed by Philippines Peso, Indonesian Rupiah, South Korean Won, China Renminbi, Malaysian Ringgit. However, Taiwan Dollar, Thai Baht were down marginally.

Crude (slips)

Oil extended its slump after the biggest weekly loss since early October, as traders weighed the prospect of a Ukraine- Russia peace deal that could increase crude flows into an already well-supplied market.

Gold (Down)

Gold was steady in Asia as the market weighed the chances of another Federal Reserve rate cut before the end of the year.

Fund Flow Action

After two days pf buying the Foreign Institutional Investors (FIIs) turned net sellers on November 21, as they sold equities of Rs 1766 crore, while Domestic Institutional Investors (DIIs) bought equities of over Rs 3160 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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