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

Nifty Trading Plan for January 21

Indian benchmark indices, Sensex and Nifty, are likely see a flat to positive start on January 21, with cues coming from GIFT Nifty, which was trading higher at around 25,294.

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

Dalal Street witnessed a sharp sell-off on January 20, with benchmark indices plunging more than 1 percent each, dragging the Nifty below the 25,200 mark, intraday, amid concerns over global trade tensions, mixed quarterly earnings, weak global cues, a falling rupee, broad-based selling, and continued FII outflows.

At close, the Sensex was down 1065.78 points or 1.28 percent at 82,180.47, and the Nifty was down 353 points or 1.38 percent at 25,232.50.

GIFT Nifty (Gains)

The GIFT Nifty is trading higher at around 25,294, indicating a flat to positive start for the day.

Asian Equities (Slip)

Asian stocks retreated on Wednesday, tracking a selloff on Wall Street as the US-Europe trade conflict over Greenland and turmoil in bond markets rattled investors.

US Equities (Down)

All ​three major Wall Street indexes ended Tuesday with their biggest one-day drops in three months, in a broad selloff triggered by concerns ‌that fresh tariff threats from President Donald Trump against Europe could signal renewed market volatility.

All three U.S. equity benchmarks registered their worst one-day performance since October 10, with both the S&P 500 and Nasdaq Composite  slipping below their 50-day moving averages.

The S&P 500 lost 143.15 points, or 2.06%, to ‌end at 6,796.86 points, while the Nasdaq Composite gave up 561.07 points, or 2.39%, to 22,954.32. The Dow Jones Industrial ​Average fell 870.74 points, or 1.76%, to 48,488.59.

US Bond Yield (Up)

Treasuries joined a selloff in global bonds on Tuesday as escalating trade tensions, spurred by proposed US tariffs relating to Greenland, undermined demand for American assets.

The yield curve bear steepened as cash trading resumed following a US holiday, with 10- and 30-year yields both climbing three basis points in early Asia trading.

Dollar Index (Down)

The dollar fell as President Donald Trump continues pushing with his plan on Greenland, sparking risks of a bigger trade rift with Europe.

Asian Currencies (Up)

Asian Currencies were trading mostly higher in the early trade on Wednesday, with the Thai Baht leading the gainers, followed by Philippines Peso, the South Korean Won, Japanese Won.

Crude (Slips)

West Texas Intermediate crude oil prices fell on Wednesday as pressure from geopolitical tensions and an expected build-up in U.S. crude inventories outweighed a temporary halt in output at two large fields in Kazakhstan.

Gold (Rises)

Gold rose to a record high and silver was near an all-time peak as the worsening crisis over Greenland and a meltdown in Japanese government debt supported haven demand.

Fund Flow Action

Foreign institutional investors (FIIs) continued their selling on January 20, offloading equities worth around Rs 2,938 crore, while domestic institutional investors (DIIs) bought shares worth approximately Rs 3,665 crore.

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

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