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

The prolonged selling pressure in the broader market may finally be subsiding

Indian benchmark indices, Sensex and Nifty, are likely to see a strong opening on December 22, with cues coming from GIFT Nifty, which was trading lower at around 26,171.

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

The Indian benchmark indices snapped a four-day losing streak and ended strongly with Nifty closing above 25,900, led by buying across the sectors and increased hopes for further rate easing bythe  Federal Reserve going ahead post-soft US inflation data.

At close, the Sensex was up 447.55 points or 0.53 percent at 84,929.36, and the Nifty was up 150.85 points or 0.58 percent at 25,966.40.

The broader indices outperformed the main indices, with the BSE midcap and smallcap indices rising 1 percent each.

GIFT Nifty (Rises)

The GIFT Nifty is trading higher at around 26,171, indicating a gap-up start for the day.

Asian Equities (Gain)

Asian equities opened higher, tracking Friday’s gains in US stocks that helped intensify bets for a

strong finish to the year.

US Equities (Gain)

MSCI's global equities gauge advanced on Friday with technology leading Wall Street higher, while the yen weakened after the Bank of Japan raised interest rates to a three-decade high, as widely expected, and left the door open to more tightening.

The Dow Jones Industrial Average rose 183.04 points, or 0.38%, to 48,134.89, the S&P 500 rose 59.74 points, or 0.88%, to 6,834.50 and the Nasdaq Composite rose 301.26 points, or 1.31%, to 23,307.62.

US Bond Yield (Up)

The yield on 10-year Treasuries and 2-year Treasuries were steady at around 4.15% and 3.48%, respectively.

Dollar Index (Flat)

The dollar index edged slightly lower on Monday against the other major currencies.

Asian Currencies (Up)

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

Crude (Gains)

Oil prices gained on Monday in early Asian trading hours after the U.S. intercepted a Venezuelan oil tanker over the weekend.

Gold (Up)

Spot gold surged to a record high of $4,383.73 per ounce on Monday, lifted by expectations of further U.S. Federal Reserve rate cuts after last week's quarter-point reduction, sustained safe-haven demand, and a softer dollar.

Fund Flow Action

The Foreign Institutional Investors (FIIs) extended their buying on their third consecutive Session on December 19 as they bought equities of over Rs 1800 crore, while Domestic Institutional Investors (DIIs) purchased equities of Rs 5,722 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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