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

Nifty outlook for February series

Indian benchmark indices Sensex and Nifty are likely to open higher on January 28, supported by positive cues from GIFT Nifty, which was trading higher at around 25,453.

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

Indian equity benchmark indices ended higher on January 27, recouping part of the losses from the previous session in a highly volatile trade, led by metal, financial, IT and oil & gas stocks. Also, the market sentiment received a modest lift following India–European Union trade agreement.

At close, the Sensex was up 319.78 points or 0.39 percent at 81,857.48, and the Nifty was up 126.75 points or 0.51 percent at 25,175.40.

GIFT Nifty (Up)

The GIFT Nifty is trading higher at around 25,453, indicating a positive start for the day.

Asian Equities (Mixed)

Asia-Pacific markets opened mostly higher on Wednesday, tracking gains on Wall Street after the S&P 500 closed at a record high.

US Equities (Mixed)

The S&P 500 barely managed a record closing high on Tuesday, its fifth straight day of gains with investor ​optimism ahead of megacap earnings reports being countered by a mixed reception to the latest earnings reports and a massive selloff in health insurer stocks.

The Dow Jones Industrial ⁠Average fell 408.99 points, or 0.83%, to 49,003.41, the S&P 500 gained 28.37 points, or 0.41%, to 6,978.60 and the Nasdaq Composite gained 215.74 points, or 0.91%, to 23,817.10.

US Bond Yield (Down)

Yields on the 10-year and 2-year US Treasuries were down marginally at 4.22% and 3.55%, respectively, in the early trade on Wednesday.

Dollar Index (Slips)

The dollar was on the ropes near multi-year lows on Wednesday after investors sold it aggressively when U.S. President Donald Trump seemed to shrug off its recent decline, while Wall Street marched on to fresh record highs.

Asian Currencies (Gain)

Asian currencies gained as the dollar sank to levels last seen four years ago as investors turned cautious toward the world’s reserve currency amid unpredictable policymaking from Washington.

Crude (Rises)

Oil held near a 16-week high after the dollar slumped, while traders also monitored US President Donald Trump’s threats against Iran.

Gold (Up)

Gold surged above $5,200 an ounce on Wednesday to a record high, extending a historic rally as economic and geopolitical uncertainty drove demand for the safe-haven yellow metal.

Fund Flow Action

On January 27, foreign institutional investors (FIIs) were net sellers in the equity market, offloading shares worth over Rs 3,000 crore, while domestic institutional investors (DIIs) provided strong support by purchasing equities worth nearly Rs 9,000 crore.

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

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