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

Market Today

Indian benchmark indices Sensex and Nifty are likely to see a weak opening today,  tracking GIFT Nifty, which was hovering around 25,203.

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

The Indian equity market ended flat with a negative bias on Tuesday, as gains in financials, autos, and metals were offset by losses in FMCG, IT, and select heavyweight stocks. Investors stayed cautious through a volatile session marked by currency weakness, FII outflows, and global policy concerns, even as selective buying in large banks, steelmakers and auto counters provided support.

At the close, the Sensex was down 58 points or 0.07 percent at 82,102, while the Nifty 50 slipped 33 points or 0.13 percent to 25,170. Market breadth on the NSE remained weak, with 1,751 stocks advancing against 2,216 declining and 146 unchanged, reflecting broader selling pressure despite selective gains in large-cap names.

Here is how financial markets across the globe fared overnight:

GIFT Nifty (Slips)

The GIFT Nifty is trading lower at around 25,203, indicating a weak start for the day.

Asian Equities (Down)

Asian stocks fell after Wall Street shares retreated as mixed signals from Federal Reserve policymakers clouded the path for interest-rate cuts.

US Equities (Slip)

US stocks finished lower on Tuesday, breaking a three-session string of record closing highs, as Federal Reserve Chair Jerome Powell said the U.S. central bank needs to balance inflation concerns with a weakening job market in its coming interest rate decisions.

The Dow Jones Industrial Average fell 88.76 points, or 0.19%, to 46,292.78, the S&P 500 lost 36.83 points, or 0.55%, to 6,656.92, and the Nasdaq Composite lost 215.50 points, or 0.95%, to 22,573.47.

US Bond Yield (Down)

The yield on 10-year Treasuries was down marginally at 4.1 percent, and 2-year Treasuries were down 2 basis points at 3.56 percent.

Dollar Index (Flat)

The dollar hovered near its weakest level in close to a week on Wednesday with traders expecting two more U.S. interest rate cuts this year, even after Federal Reserve Chair Jerome Powell struck a cautious tone on further easing.

Asian currencies (Down)

Asian currencies were trading lower, with the Indonesian Rupiah leading the losers, followed by the Taiwan Dollar, Japanese Yen, Philippine Peso, Thai Baht, and Singapore Dollar.

Crude (Up)

Oil prices rose for a second day on Wednesday as an industry report showed U.S. crude inventories declined last week, adding to a sense in the market of tightening supplies.

Gold (Flat)

Gold traded just below a record after a three-day advance, as investors assessed a raft of commentary from Federal Reserve policymakers, including Chair Jerome Powell, and geopolitical tensions over Russia.

Fund Flow Action

The Foreign institutional investors (FIIs) extended the selling on the second day on September 23 as sold equities worth Rs 3551 crore, while Domestic institutional investors (DIIs) continued their buying in this month, as they purchased equities worth Rs 2670 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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