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First Tick: Top 10 global cues for today’s trade

September 26, 2024 Bruce Langford

The GIFT Nifty is indicating a positive start for the day.

Indian benchmark indices Sensex and Nifty 50 are likely to open higher on September 26, tracking cues from GIFT Nifty trading near 26,045, a short while ago this morning.

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

The record run continued on Dalal street on September 25 as the Nifty index managed to close above 26,000 for the first time led by energy, metal and media names.

At close, the Sensex was up 255.83 points or 0.30 percent at 85,169.87, and the Nifty was up 63.75 points or 0.25 percent at 26,004.15.

GIFT Nifty (Up)

The GIFT Nifty is trading firm, indicating a positive start for the day. Nifty futures were trading at 26,045 at 07:00 am IST.

Asian Equities (Gain)

Asian equities climbed Thursday as a weaker yen and Beijing stimulus measures supported the region’s two largest stock markets.

	CHANGE FROM PREVIOUS CLOSE	MTD (%)	YTD (%)
Topix	1.50	-0.24	11.20
Nikkei	1.94	0.47	12.82
Hang Seng	0.91	7.14	14.16
Taiwan	0.31	2.38	22.83
Kospi	1.99	-0.80	-2.83

US Equities (Mixed)

The Dow Jones Industrial Average and S&P 500 closed lower on Wednesday, pulling back from recent record highs driven by China’s sweeping stimulus package, as investors awaited economic indicators and signals on upcoming interest rate cuts.

The Dow Jones Industrial Average fell 293.47 points, or 0.70%, to 41,914.75. The S&P 500 lost 10.67 points, or 0.19%, at 5,722.26 and the Nasdaq Composite gained 7.68 points, or 0.04%, at 18,082.21.

	CHANGE FROM PREVIOUS CLOSE (%)	MTD (%)	YTD (%)
Dow Jones	-0.70	0.52	11.74
S&P500	-0.19	0.98	20.54
Nasdaq	0.04	1.75	21.03

US Bond Yield (Down)

The US 10-year Treasury yield down 15 bps at 3.77 percent and the US 2-year bond yield was down 11 bps to 3.55percent, in the early trade on Thursday.

	CURRENT PRICE	MTD	YTD
US 10-Year Treasury	3.77	3.81	4,53
US 2-Year Treasury	3.55	3.93	5.12

Dollar Index (Flat)

After a bounced off from a 14-month low against the euro on Wednesday the US dollar was steady in the early trade on Thursday.

	CURRENT PRICE	MTD	YTD
Dollar Index	100.91	100.85	106.23

Asian currencies (Gain)

Asian currencies are bucking the overnight trend and gaining traction against the dollar this morning. The Korean won is leading the charge and yuan stability will only help these
currencies forge ahead.

	CHANGE FROM PREVIOUS CLOSE	MTD (%)	YTD (%)
Indonesian Rupiah	0.563	2.23	1.96
South Korean Won	0.434	-0.155	-2.94
Japanese Yen	-0.055	-0.221	-2.62
Philippines Peso	-0. 195	0.048	-0.471
Thai Baht	0.245	3.98	-1.08
Taiwan Dollar	-0. 157	-0.241	-4.15
China Renminbi	0. 055	1.35	1.39
Malaysian Ringgit	-0. 499	4.79	10.69
Singapore Dollar	0. 140	1.25	2.50

Gold (Up)

Gold and Silver prices were trading marginally higher in the early trade on Thursday.

	CHANGE FROM PREVIOUS CLOSE (%)	MTD (%)	YTD (%)
Gold	0.06	6.20	28.87
Silver	0.13	10.43	33.80

Crude (Flat)

Oil prices were little changed on Thursday after falling in the previous session as signs of higher fuel demand and falling stockpiles in the U.S., the world’s biggest oil user, offset concerns over demand elsewhere, particularly in China.

	CHANGE FROM PREVIOUS CLOSE (%)	MTD (%)	YTD (%)
US West Texas	-0.06	-5.28	-2.78
Brent Crude	0.03	-6.75	-4.62

LME Commodities (Mixed)

Mixed trend seen in the commodities prices in the early trade on Thursday, with Aluminium and Zinc in the red, while Nickel and Lead gained 0.5 percent each.

	CHANGE FROM PREVIOUS CLOSE (%)	MTD (%)	YTD (%)
Aluminium	-0.68	3.74	6.48
Copper	0.17	6.26	14.05
Nickel	0.51	0.18	1.16
Lead	0.55	2.12	1.35
Zinc	-0.40	3.47	12.77

Fund Flow Action

The foreign institutional investors (FIIs) extended their selling as they sold equities worth Rs 973 crore on September 25, while domestic institutional investors extended their buying as they further bought equities worth Rs 1778 crore on the same day.