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

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Indian benchmark indices, Sensex and Nifty, are likely to see a strong start on December 1, with cues coming from GIFT Nifty, which was trading higher at around 26,509.

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

In the volatile last session of the week and the month, the Indian benchmark ended marginally lower, snapping two-day winning run on November 28. At close, the Sensex was down 13.71 points or 0.02 percent at 85,706.67, and the Nifty was down 12.60 points or 0.05 percent at 26,202.95.

Broader indices performed inline with the main indices, with BSE Midcap and smallcap indices finishing on a flat note.

The benchmark indices extended the gains on third consecutive week and month, with BSE Sensex and Nifty rising 0.5 percent each in this week and adding 2% each in the month of November.

Here is how financial markets across the globe fared overnight:

GIFT Nifty (Up)

The GIFT Nifty is trading higher at around 26,509, indicating a strong start for the day.

Asian Equities (Down)

Asian stocks swung between gains and losses following modest US gains on Friday, with investors turning focus to a slew of economic data ahead of an expected Federal Reserve interest-rate cut this month.

US Equities (Gain)

US stocks climbed on Friday in thin trading volume during a shortened session after Thanksgiving, driven by gains in retail and a recovery in tech stocks.

The Dow Jones Industrial Average rose 0.61%, to 47,716.42 points, the S&P 500 gained 0.54%, to 6,849.09 points and the Nasdaq Composite added 0.65%, to 23,365.69.

US Bond Yield (Flat)

The yield on 10-year Treasuries and 2-year Treasuries were remain unchanged at 402 percent and 3.48 percent, respectively.

Dollar Index (Flat)

The dollar began December on the back foot, as investors braced for a pivotal month that could bring the Federal Reserve's final rate cut of the year and the confirmation of a dovish successor to Chair Jerome Powell.

Asian Currencies (Mixed)

Asian currencies were trading mixed in the early Monday trade, with Indonesian Rupiah, Philippines Peso, South Korean Won, Taiwan Dollar were trading lower, while Japanese Yen, China Renminbi, Malaysian Ringgit, Singapore Dollar were trading higher.

Crude (Rises)

Oil prices rose 1% on Monday after the OPEC+ meeting on Sunday decided against earlier planned production rises in the first quarter of next year.

Silver (Gains)

Silver jumped to a record, reinforcing a gain of nearly 6% in the previous session, when a trading outage added to ongoing supply tightness and rising expectations for an interest-rate cut in the US. However, the gold prices fell 0.35% to $4,220.29 an ounce.

Fund Flow Action

The Foreign Institutional Investors (FIIs) continued their selling on the second day on November 28 as they sold equities of Rs 3795 crore. On the other hand, Domestic Institutional Investors (DIIs) remained net buyers throughout the month, as they purchased equities of Rs 4148 crore on last day of the month.

Hope you're all set for today's trade. We wish you a profitable day ahead.

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