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

Market Today

Indian benchmark indices, Sensex and Nifty, are likely to open on a negative note on December 9, with cues coming from GIFT Nifty, which was trading lower at around 25,966.50.

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

The Indian benchmark started the week on a negative note, snapping a two-day winning run, with Nifty losing nearly 1 percent amid weakness in broader indices and selling across the sectors.

At close, the Sensex was down 609.68 points or 0.71 percent at 85,102.69, and the Nifty was down 225.90 points or 0.86 percent at 25,960.55. BSE midcap index shed 1.7% and smallcap index declined 2.2%.

The GIFT Nifty is trading lower at around 25,966.50, indicating a weak opening for the day.

Asian shares were slightly down on Tuesday as traders grew anxious about the pace of easing by the Federal Reserve beyond this week’s near-certain rate cut.

Wall Street's main indexes closed lower on Monday, with most S&P 500 industry sectors in the red, while Treasury yields gained as investors waited nervously for the Federal Reserve's monetary policy update due in two days.

The Dow Jones Industrial Average fell 215.67 points, or 0.45%, to 47,739.32, the S&P 500 lost 23.89 points, or 0.35%, to 6,846.51, and the Nasdaq Composite lost 32.22 points, or 0.14%, to 23,545.90.

The yield on 10-year Treasuries was little changed at 4.16%, after hitting its highest level since September in Monday’s session, extending bond selling in Europe and Japan and supporting the dollar.

The U.S. dollar index, which measures the greenback's strength against a basket of six currencies, was last up 0.1% at 99.092, edging back from its highest level in a week.

All the Asian currencies were trading lower in the early Tuesday trade, with the Philippine Peso leading the losers, followed by the Malaysian Ringgit, the Taiwan Dollar, the Indonesian Rupiah, the South Korean Won, Japanese Yen.

Oil prices steadied on Tuesday after slipping 2% in the previous session, as market participants kept a close eye on peace talks to end Russia’s war in Ukraine and a looming decision on U.S. interest rates.

Gold steadied, as traders looked beyond this week’s near-certain reduction in US interest rates for guidance on monetary policy next year.

The Foreign Institutional Investors (FIIs) sold equities worth Rs 655 crore on December 8, while Domestic Institutional Investors (DIIs) bought equities of Rs 2542 crore on the same day.

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