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

Market Today

Indian equity benchmarks, Sensex and Nifty, are likely to open on a negative note on February 17, following gains in GIFT Nifty, which was trading lower at around 25,641.

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

Indian benchmark indices snapped their two-day losing streak and ended higher in a volatile session on February 16, with the Nifty finishing above 25,650. The rebound was driven by strong buying interest in power, energy, realty, and financial stocks, which helped lift overall market sentiment despite intraday fluctuations.

At close, the Sensex was up 650.39 points or 0.79 percent at 83,277.15, and the Nifty was up 211.65 points or 0.83 percent at 25,682.75.

GIFT Nifty (Down)

The GIFT Nifty is trading lower at around 25,641, indicating a negative start for the day.

Asian Equities (Down)

Asian stocks started subdued, with holiday-thinned trading keeping volumes light as investors await a fresh round of economic data later this week for direction.

US Equities (Shut)

The US markets were shut on Monday on account of Presidents' Day holiday.

Dollar Index (Up)

The dollar held gains on Tuesday as markets awaited signals, expected later this week, about the potential timing of rate cuts by the Federal Reserve.

US Bond Yield (Flat)

Treasury two-year yields dropped to their lowest level since 2022 as traders priced in higher chances that the Fed will slash rates more than twice this year. Yields on the benchmark 10-year stood at 4.05%, the lowest level since November.

Asian Currencies (Mixed)

Asian currencies were trading mixed in the early trade with the Philippines Peso, Taiwan Dollar, Thai Baht, and China Renminbi trading with marginal losses, while the Malaysian Ringgit,

Indonesian Rupiah, South Korean Won, Singapore Dollar, and Japanese Yen were trading higher.

Crude (Rises)

Crude oil rose, with traders pricing in heightened geopolitical risk after Iran conducted naval exercises near a critical shipping corridor before talks with the US resume later Tuesday.

Gold (Down)

Gold fell 1% on Tuesday as thin trading persisted across major Asian markets due to the Lunar New Year holidays, while a firmer dollar also pressured prices.

Fund Flow Action

Foreign Institutional Investors (FIIs) remained net sellers for the second consecutive session on February 16, offloading equities worth ₹972 crore. In contrast, Domestic Institutional Investors (DIIs) continued to lend support to the market, extending their buying streak to a third straight day by purchasing equities worth ₹1,667 crore.

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

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