First Tick: Top 10 global cues for today’s trade
The GIFT Nifty is indicating a strong start for the day.
Indian benchmark indices Sensex and Nifty 50 are likely to open higher on September 12, tracking cues from GIFT Nifty trading near 25,095.50, a short while ago this morning.
Track the latest updates on GIFT Nifty right here on Moneycontrol.
Indian markets fell nearly 0.5 percent on September 11, tracking global declines ahead of a key United States inflation report and concerns that the Federal Reserve may have delayed easing the monetary policy. Traders also weighed the impact of the US. presidential debate.
The benchmark Sensex fell 398 points (0.49 percent) at 81,523.16, and the Nifty slipped 122.65 points (0.49 percent) to 24,918.45.
Here is how financial markets across the globe fared overnight:
GIFT Nifty (Gains)
The GIFT Nifty is trading higher, indicating a strong start for the day. Nifty futures were trading at 25,095.50 at 07:00 am IST.
Asian Equities (Gain)
Asian markets opened higher on Thursday, tracking gains on Wall Street after a volatile session spurred by inflation data.
| CHANGE FROM PREVIOUS CLOSE (%) | MTD (%) | YTD (%) | |
| Topix | 2.01 | -1.96 | 9.26 |
| Nikkei | 2.56 | -2.58 | 9.33 |
| Hang Seng | – | – | – |
| Taiwan | 2.23 | -3.69 | 15.25 |
| Kospi | 1.16 | -5.05 | -6.95 |
US Equities (Gain)
All three major US stock indexes closed higher on Wednesday with a boost from the technology sector offsetting investor disappointment at an early morning inflation report, which crushed hopes the Federal Reserve would cut interest rates by 50 basis points next week.
The Dow Jones Industrial Average rose 124.75 points, or 0.31%, to 40,861.71, the S&P 500 gained 58.61 points, or 1.07%, to 5,554.13 and the Nasdaq Composite gained 369.65 points, or 2.17%, to 17,395.53.
| CHANGE FROM PREVIOUS CLOSE (%) | MTD (%) | YTD (%) | |
| Dow Jones | 0.31 | -1.57 | 9.42 |
| S&P500 | 1.07 | -1.55 | 17.52 |
| Nasdaq | 2.13 | -1.67 | 16.95 |
US Bond Yield (Gains)
The US 10-year Treasury yields rose 26 bps at 3.66 percent and US 2-year bond yield was up 40 bps to 3.65 percent, in the early trade on Thursday.
| CURRENT PRICE | MTD | YTD | |
| US 10-Year Treasury | 3.66 | 3.90 | 4.28 |
| US 2-Year Treasury | 3.65 | 4.01 | 5.02 |
Dollar Index (Rises)
The dollar traded near a four-week high versus the euro on Thursday after signs of some stickiness in U.S. inflation reinforced expectations that the Federal Reserve would avoid a super-sized interest rate cut next week.
| CURRENT PRICE | MTD | YTD | |
| Dollar Index | 101.80 | 103.13 | 104.71 |
Asian currencies (Mixed)
Asian currencies were trading mixed against the US dollar in the early trade on Thursday. All the currencies gained over the past month, with Thai Baht rising over 4 percent and Indonesian Rupiah and Japanese Yen added more than 3 percent each.
| CHANGE FROM PREVIOUS CLOSE (%) | MTD (%) | YTD (%) | |
| Indonesian Rupiah | 0.344 | 3.59 | -0.019 |
| South Korean Won | -0.078 | 2.19 | -3.68 |
| Japanese Yen | 0. 021 | 3.42 | -0.885 |
| Philippines Peso | -0. 198 | 2.25 | -1.22 |
| Thai Baht | -0.122 | 4.18 | 1.56 |
| Taiwan Dollar | 0. 178 | 1.14 | -4,71 |
| China Renminbi | 0. 020 | 0.777 | -0.272 |
| Malaysian Ringgit | -0. 097 | 2.76 | 6.03 |
| Singapore Dollar | -0.022 | 1.51 | 1.21 |
Gold (Gains)
Gold prices were trading with marginal gains at around $2514.02, while Silver prices rose 0.3o percent at $28.75.
| CHANGE FROM PREVIOUS CLOSE (%) | MTD (%) | YTD (%) | |
| Gold | 0.11 | 0.44 | 21.88 |
| Silver | 0.31 | -0.38 | 20.88 |
Crude (Gains)
Oil prices were trading higher on Thursday despite concerns about lower demand erased the gains from the previous session spurred by Hurricane Francine’s impact on output in the U.S., the world’s biggest crude producer.
| CHANGE FROM PREVIOUS CLOSE (%) | MTD (%) | YTD (%) | |
| US West Texas | 0.33 | -8.18 | -5.76 |
| Brent Crude | 0.40 | -10.05 | -7.98 |
LME Commodities (Gain)
All the commodity prices gained in the early trade on Thursday with Nickel and Zinc rising 2 percent each.
| CHANGE FROM PREVIOUS CLOSE (%) | MTD (%) | YTD (%) | |
| Aluminium | 1.46 | -3.13 | -0.57 |
| Copper | 0.71 | -1.58 | 6.21 |
| Nickel | 2.38 | -3.90 | -2.98 |
| Lead | 1.71 | -3.14 | -3.87 |
| Zinc | 2.14 | -4.38 | 4.21 |
Fund Flow Action
The foreign institutional investors (FIIs) extended their buying as they bought equities worth Rs 1755 crore on September 11, while domestic institutional investors sold equities worth Rs 230 crore on the same day.
| 11th Sept | MTD | YTD | |
| FII Net Flows | 1,755 | 7,570.31 | 1,34,965.89 |
| DII Net Flows | 230.9 | 9154.75 | 3,14,758.46 |
Hope you’re all set for today’s trade, we wish you a profitable day ahead.
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