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

Silver wavered, after climbing more than 2% in the previous session, as inflows to exchange-traded funds backed by the metal had their strongest week since July. Gold edged up.

Indian benchmark indices, Sensex and Nifty, are likely to see a muted start on December 8, with cues coming from GIFT Nifty, which was trading higher at around 26,316.50.

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

India's stock benchmarks inched 0.6 percent higher on Friday, led by domestic rate-sensitive financials, after the Reserve Bank of India lowered the key interest rate by 25 basis points.

The Sensex was up 447.05 points or 0.52 percent at 85,712.37, and the Nifty was up 152.70 points or 0.59 percent at 26,186.45.

GIFT Nifty (Flat)

The GIFT Nifty is trading marginally lower at around 26,316.50, indicating a flat to negative start for the day.

Asian Equities (Up)

Asian shares dithered on Monday as investors bet the farm on a rate cut from the Federal Reserve this week, yet the meeting could be one of the most fractious in recent memory with some policy makers openly arguing against an easing.

US Equities (Gain)

US stocks closed out the trading week with slight gains on Friday as the latest flurry of economic data kept elevated expectations for a Federal Reserve interest rate cut next week intact.

The Dow Jones Industrial Average rose 104.05 points, or 0.22%, to 47,954.99, the S&P 500 gained 13.28 points, or 0.19%, to 6,870.40 and the Nasdaq Composite gained 72.99 points, or 0.31%, to 23,578.13.

For the week, the S&P 500 gained 0.31%, the Nasdaq rose 0.91%, and the Dow climbed 0.5%. All three indexes recorded a second straight weekly advance.

US Bond Yield (Flat)

The yield on 10-year Treasuries and 2-year Treasuries were trading marginally lower at 4.13 percent and 3.55 percent, respectively.

Dollar Index (Flat)

The U.S. dollar steadied on Monday after two weeks of selling, ahead of a week crammed with central bank meetings and headlined by the U.S. Federal Reserve, where an interest rate cut is all but priced in but a divided committee makes for a wild card.

Asian Currencies (Up)

Except for the Philippine Peso and Malaysian Ringgit, all other Asian currencies were trading higher in the early trade on Monday.

Crude (Flat)

Oil prices hovered at two-week highs on Monday as investors expect a Federal Reserve interest rate cut this week that will lift economic growth and energy demand while eyeing geopolitical risks that threaten oil supplies from Russia and Venezuela.

Gold (Gains)

Silver wavered, after climbing more than 2% in the previous session, as inflows to exchange-traded funds backed by the metal had their strongest week since July. Gold edged up.

Fund Flow Action

The Foreign Institutional Investors (FIIs) extended their selling in this month as they sold equities of Rs 438 crore on December 5, while Domestic Institutional Investors (DIIs) continued their buying as they bought equities of Rs 4189 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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