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

Market Today

Indian equity benchmarks Sensex and Nifty are likely to start the session with a positive bias on February 11, following gains in GIFT Nifty, which was trading around 26,049.

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

Indian equity markets extended their winning streak for a third straight session on February 10, with Nifty inching closer to 26,000 intraday, supported by broad-based buying across sectors and positive cues from global markets.

At close, the Sensex was up 208.17 points or 0.25 percent at 84,273.92, and the Nifty was up 67.85 points or 0.26 percent at 25,935.15.

GIFT Nifty (Gains)

The GIFT Nifty is trading higher at around 26,049, indicating a positive opening for the day.

Asian Equities (Gains)

Asian stocks posted a modest gain at the open as traders braced for US jobs data on Wednesday after weak retail sales reinforced bets that the Federal Reserve will cut interest rates later this year.

US Equities (Mixed)

The S&P 500 and the Nasdaq closed lower on Tuesday while the Dow edged up to its third record close in a row, as investors digested disappointing retail sales figures and waited for a key labor market report.

The Dow Jones Industrial Average rose 52.27 points, or 0.10%, to 50,188.14, after hitting an intraday record high earlier in the day. The S&P 500 lost 23.01 points, or 0.33%, to 6,941.81, and the Nasdaq Composite lost 136.20 points, or 0.59%, to 23,102.47.

US Bond Yield (Down)

The US Treasury 10-year yield fell 6 basis points to 4.14%, and the 10-year yield shed 3 basis points at 3.45%

Dollar Index (Flat)

Against a basket of currencies, the dollar was down 0.12% at 96.80 in the early Wednesday trade.

Asian Currencies (Rise)

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

Crude (Up)

Oil held steady on Wednesday, finding support as the market waited for direction while the U.S.-Iran talks continued, with lingering geopolitical uncertainty helping to underpin prices.

Gold (Gains)

Gold and silver prices rose on Wednesday as U.S. Treasury bond yields fell after data showed December retail sales growth stalled, signalling a softening economy ahead of key jobs data.

Fund Flow Action

Foreign institutional investors (FIIs) continued their buying streak for the third consecutive session on February 10, purchasing equities worth Rs 69 crore. Domestic institutional investors (DIIs) also remained supportive of the market, buying equities worth over Rs 1,174 crore.

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

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