First Tick: Top 10 global cues for today’s trade
The GIFT Nifty is indicating a weak start for the day.
Indian benchmark indices Sensex and Nifty 50 are likely to open gap-down on August 2, tracking cues from GIFT Nifty trading near 24,812, a short while ago this morning.
Track the latest updates on GIFT Nifty right here on Moneycontrol.
After reaching new record highs, Indian markets gave up most of their morning gains on August 1 and ended the day with a modest increase.
At the close, the Sensex stood at 81,867.55, up by 0.15 points. The Nifty closed at 25,010.9, up by 0.24 percent.
Here is how financial markets across the globe fared overnight:
GIFT Nifty (Falls)
The GIFT Nifty is trading lower, indicating a weak start for the day. Nifty futures were trading at 24,812 at 07:00 am IST.
Asian Equities (Down)
Among Asian indices Japan’s Nikkei 225 and Tokyo Stock Price Index Topix fell 5 percent on Friday, with most Asia-Pacific markets lower after a sell-off on Wall Street overnight.
| CHANGE FROM PREVIOUS CLOSE (%) | MTD (%) | YTD (%) | |
| Topix | -5.42 | -8.48 | 2.24 |
| Nikkei | -5.15 | -7.44 | 2.33 |
| Hang Seng | – | – | – |
| Taiwan | -2.99 | -1 | 14.86 |
| Kopsi | -2.69 | -2.70 | -3.87 |
US Equities (Down)
US stocks kicked off August sharply lower after a round of economic data on Thursday spurred concerns the economy may be slowing faster than anticipated while the Federal Reserve maintains a restrictive monetary policy.
The Dow Jones Industrial Average fell 494.82 points, or 1.21 percent, to 40,347.97, the S&P 500 lost 75.62 points, or 1.37 percent, to reach 5,446.68. Meanwhile the Nasdaq Composite lost 405.25 points, or 2.30 percent, to reach 17,194.15.
U.S. elections. The benchmark U.S. 10-year note yield fell 9.8 basis points to 4.043 percent.
The Dow Jones Industrial Average rose 0.24 percent to 40,842.79, the S&P 500 gained 1.58 percent to 5,522.30 and the Nasdaq Composite advanced 2.64% to 17,599.40.
| CHANGE FROM PREVIOUS CLOSE (%) | MTD (%) | YTD (%) | |
| Dow Jones | -1.21 | – | 7.72 |
| S&P500 | -1.37 | – | 14.90 |
| Nasdaq | -2.30 | – | 15.26 |
US Bond Yield (Falls)
The US 10-year Treasury yield declined 48 basis points to 3.95 percent and the US 2-year bond yield was down 59 bps to 4.12 percent.
| CURRENT PRICE | MONTH AGO | YEAR AGO | |
| US 10-Year Treasury | 3.95 | 4.43 | 4.07 |
| US 2-Year Treasury | 4.12 | 4.74 | 4.87 |
Dollar Index (Flat)
The U.S. dollar was trading soft in the early trade on Friday.
| CURRENT PRICE | MONTH AGO | YEAR AGO | |
| Dollar Index | 104.34 | 105.72 | 102.59 |
Asian currencies (Mixed)
Asian currencies were trading mostly lower against the US dollar. Malaysian Ringgit, Indonesian Rupiah and Philippines Peso were up marginally.
| CHANGE FROM PREVIOUS CLOSE (%) | MTD (%) | YTD (%) | |
| Indonesian Rupiah | 0.142 | 0.517 | -5.16 |
| South Korean Won | -0.482 | 0.828 | -6.15 |
| Japanese Yen | – 0.214 | 7.81 | -5.72 |
| Philippines Peso | 0.063 | 0.839 | -5.02 |
| Thai Baht | – 0.078 | 3.41 | -3.76 |
| Taiwan Dollar | – 0.171 | -0.606 | -6.84 |
| China Renminbi | -0.254 | 0.323 | -2 |
| Malaysian Ringgit | 0.248 | 3.58 | 0.790 |
| Singapore Dollar | -0.052 | 1.39 | -1.27 |
Gold (Flat)
Gold prices were trading flat, while Silver prices shed nearly 0.5 percent in the early trade on Friday.
| CHANGE FROM PREVIOUS CLOSE (%) | MTD (%) | YTD (%) | |
| Gold | 0.01 | -0.20 | 18.58 |
| Silver | -0.42 | -2.28 | 19.33 |
Crude (Gains)
Oil prices rose on Friday but were set for a fourth weekly decline as signs of disappointing global fuel demand growth outweighed fears of supply disruptions in the key Middle East production region.
| CHANGE FROM PREVIOUS CLOSE (%) | MTD (%) | YTD (%) | |
| US West Texas | 0.33 | -1.76 | 6.85 |
| Brent Crude | 0.28 | -1.26 | 3.48 |
LME Commodities (Mixed)
LME commodity prices were trading mixed on Friday, with Zinc and Aluminium trading in the green, while Nickel, Copper and Lead were down 1 percent each.
| CHANGE FROM PREVIOUS CLOSE (%) | MTD (%) | YTD (%) | |
| Aluminium | 0.24 | – | -3.69 |
| Copper | -1.87 | – | 5.77 |
| Nickel | -1.98 | – | -1.93 |
| Lead | -1.03 | – | -0.31 |
| Zinc | 1.18 | – | 1.84 |
Fund Flow Action
The foreign institutional investors (FIIs) turned net buyers as they bought equities worth Rs 2,089 crore on August 1, while domestic institutional investors sold equities worth Rs 337 crore on the same day.
| 1st August | MTD | YTD | |
| FII Net Flows | 2089.28 | 7934.14 | 119078.41 |
| DII Net Flows | -337.03 | 19231.56 | 256577.57 |
Hope you’re all set for today’s trade, we wish you a profitable day ahead.
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