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

Market Mastery

Webinar by Vishal Malkan

Find the weak links

in your portfolio by Vishal Malkan

Indian benchmark indices are likely to see a flat to negative opening on October 26, tracking GIFT Nifty, which down about 22 points at 22,585.50 in early trade.

Track the latest updates on GIFT Nifty right here on Moneycontrol

Indian equity markets extended their losing streak for the fourth consecutive session on Friday, October 23, with the Nifty recovering to around 22,600 after slipping below 22,400 amid broad-based selling across sectors.

Markets opened higher but failed to sustain gains, turning lower within the first hour of trade. Persistent selling dragged the Nifty to an intraday low of 22,372 as sustained foreign fund outflows and rising crude oil prices weighed on investor sentiment.

At close, the Sensex was down 125.56 points or 0.17 percent at 73,123.83, recovering 670 points from the day's low, while the Nifty50 index also recovered 228 points from day's low to close at 22,600, down 87.65 points or 0.39 percent.

For the week, the BSE Sensex and Nifty 50 snapped their two-week winning streak, declining 2 percent and 2.35 percent, respectively.

Here is how financial markets across the globe fared overnight:

GIFT Nifty (Down)

GIFT Nifty was trading lower at around 22,585.50 in early trade, indicating a negative start for the domestic equity markets.

Asian Markets (Down)

Share markets got off to a cautious start on Monday as oil eased from six-month highs ahead of a week packed with central bank meetings and company earnings that will further test investor confidence in the AI boom.

Japan's Nikkei dipped 0.5%, after losing 4% last week, while South Korea fell 0.9%, having shed almost 19% so far this month. MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.1%.

US Equities (Down)

Wall Street's main ​indexes closed lower on Friday even as technology shares steadied somewhat to end a turbulent week for the market-driving AI trade, ‌and investors looked ahead to a busy slate of corporate earnings and a Federal Reserve interest-rate policy meeting.

The Dow Jones Industrial Average fell 652.82 points, or 1.23%, to 52,215.16; the S&P 500 lost 39.75 points, or 0.52%, to 7,623.68 and the Nasdaq Composite lost 53.52 points, or 0.21%, to 25,955.34.

Dollar Index (Down)

The US dollar index, which measures the currency against six peers, was trading lower at 101.65 in the early trade on Monday.

US Bond Yield (Down)

Yields on 10-year Treasuries were at 4.97%, but off a peak of 5.36% hit early in the month. The yield on 2-year Treasury was down 2 basis point at 4.66 percent

Asian Currencies (Mixed)

Asian currencies traded mixed against the US dollar, with the Philippine peso falling the most by 0.26 percent, followed by the Indonesian rupiah, which declined 0.11 percent. The Taiwan dollar slipped 0.06 percent, while the Thai baht edged down 0.006 percent.

On the other hand, the South Korean won gained 0.09 percent, followed by the Japanese yen, which rose 0.07 percent, and the Chinese renminbi, which advanced 0.06 percent. The Malaysian ringgit and Singapore dollar also strengthened by 0.03 percent and 0.02 percent, respectively, against the previous close.

Crude (Slips)

Oil prices fell on Monday after surging to near six-month highs late last week, although ongoing attacks on Saudi Arabia kept supply concerns in focus.

US crude futures were down $1.60, or 1.55%, at $101.67 per barrel. Brent crude futures were down $1.56 or 1.34% at $115.16.

Gold (Flat)

Gold steadied after its biggest weekly drop since June, with traders weighing stubbornly high energy prices ahead of the Federal Reserve’s upcoming policy meeting.

Bullion traded either side of $4,000 an ounce, after falling more than 4% last week to the lowest since July.

Fund Flow Action

Foreign institutional investors (FIIs) turned net buyers on October 23, purchasing equities worth Rs 887 crore. Domestic institutional investors (DIIs) also remained net buyers for the fourth consecutive session, buying equities worth Rs 3,236 crore.

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