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

Asian Currencies were trading mixed in the early Thursday trade.

Indian benchmark indices Sensex and Nifty are likely to see a strong opening on January 22, supported by positive cues from GIFT Nifty, which was trading higher at around 25,312.50.

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

The Indian equity market extended its losing streak for a third consecutive session on January 21 amid weak global cues, including geopolitical tensions over Greenland and a sharp sell-off in Japanese government debt. The sustained selling pressure dragged the benchmark indices below their 200-day moving averages for the first time in eight months.

At close, the Sensex was down 270.84 points or 0.33 percent at 81,909.63, and the Nifty was down 75 points or 0.30 percent at 25,157.50.

GIFT Nifty (Up)

The GIFT Nifty is trading higher at around 25,312.50, indicating a gap up opening start for the day.

Asian Equities (Rise)

Asian stocks followed Wall Street higher after US President Donald Trump dropped his tariff threat against European partners, easing trade-war concerns.

US Equities (Gain)

Wall Street ended higher on Wednesday, with the S&P 500 posting ​its biggest one-day percentage gain in two months, as investors were buoyed by news that a framework for an agreement on ‌Greenland had been reached and the possibility of new U.S. tariffs on European allies had been averted.

Both the Dow Jones Industrial Average and Nasdaq Composite also enjoyed milestone days, gaining the most in percentage terms since January 5 and December 19, respectively.

The Dow Jones Industrial Average rose 588.64 points, or 1.21%, to 49,077.23, ‍the S&P 500 gained 78.76 points, or 1.16%, to 6,875.62 and the Nasdaq Composite gained 270.50 points, or 1.18%, to 23,224.83.

US Bond Yield (Up)

Yields on the 10-year and 2-year US Treasuries edged up marginally to 4.24 percent and 3.58 percent, respectively.

Dollar Index (Up)

The dollar rose to the day’s high as President Donald Trump said he would refrain from imposing tariffs on goods from European nations opposing his Greenland plan, citing a reached “framework of a future deal.”

Asian Currencies (Mixed)

Asian Currencies were trading mixed in the early Thursday trade.

Crude (Flat)

Oil prices edged up on Thursday after the U.S. president stepped back from threats to impose tariffs in his effort to seize Greenland, reducing the risk of a U.S.–Europe trade war and supporting the global economy and oil demand.

Gold (Slips)

Gold fell after US President Donald Trump withdrew a threat to impose tariffs on European nations and said a “framework of a future deal” over Greenland had been agreed.

Fund Flow Action

On January 21, Foreign institutional investors (FIIs) sold equities worth around Rs 1,787 crore, while domestic institutional investors (DIIs) bought shares worth approximately Rs 4520 crore.

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

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