First Tick: Here are the top global cues for today’s trade

Indian benchmark indices Sensex and Nifty are likely to see a firm opening on July 2, tracking cues from GIFT Nifty trading around 25,680 a short while ago this morning.

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

In a rangebound session on July 1, the India equity indices finished on a flat note with Nifty to hold above 25,500. At close, the Sensex was up 90.83 points or 0.11 percent at 83,697.29, and the Nifty was up 24.75 points or 0.10 percent at 25,541.80.

The seven-day gains for the broader indices came to an end as the BSE Midcap and Smallcap ended with marginal losses.

Here is how financial markets across the globe fared overnight:

GIFT Nifty (Gains)

The GIFT Nifty is trading higher at around 25,680, indicating a positive start for the day.

Asian Equities (Down)Asian shares edged lower after President Donald Trump said he won’t delay the July 9 deadline for

imposing higher levies on trading partners, ratcheting up trade tensions yet again.

US Equities (Mixed)

The Nasdaq and the S&P 500 closed lower on Tuesday, dragged down by weakness in large-cap tech stocks, while the Dow ended higher in a volatile day marked by seasonally low liquidity.

Dow Jones Industrial Average rose 400.17 points, or 0.91%, to 44,494.94. The S&P 500 lost 6.94 points, or 0.11%, to 6,198.01, and the Nasdaq Composite lost 166.84 points, or 0.82%, to 20,202.89.

US Bond Yield (Down)

The yields on 10-year and 2-year Treasuries were trading marginally lower in the early trade on Wednesday.

Dollar Index (Down)

The U.S. dollar hunkered near the lowest since February 2022 against major peers on Wednesday, as traders considered dovish hints from Federal Reserve Chair Jerome Powell, along with the potential impact of President Donald Trump's spending bill.

Asian currencies (Mixed)

Asian currencies were mixed in the early trade on Wednesday, with Malaysian Ringgit, Taiwan Dollar, South Korean Won, Japanese Yen, and China Renminbi trading lower, while Indonesian Rupiah, Philippines Peso, and Thai Baht were trading higher.

Crude (Down)

Oil futures were little changed on Wednesday as investors are wary ahead of a meeting of major producers this week to determine output levels for August.

Gold (Flat)

Gold held an advance, with investors weighing concerns about the US fiscal position after the Senate passed President Donald Trump’s multitrillion-dollar tax bill.

Fund Flow Action

The Foreign institutional investors (FIIs) extended their selling on July 1 as they sold equities worth Rs 1970 crore, while Domestic institutional investors (DIIs) continued their buying as they bought equities worth Rs 771 crore on the same day.

Hope you're all set for today's trade. We wish you a profitable day ahead.Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.