First Tick: Here are the top global cues for today’s trade
Indian benchmark indices Sensex and Nifty 50 are likely to open on a positive note on June 25, tracking cues from GIFT Nifty trading around 25,163.50 a short while ago this morning.
Track the latest updates on GIFT Nifty right here on Moneycontrol.
Benchmark indices ended higher on Tuesday, with the Sensex rising 158 points and the Nifty closing above the 25,000 mark. Adani Ports, Tata Steel, Kotak Mahindra Bank, and Ultratech Cement emerged as the top gainers.
Among sectoral indices, Nifty PSU Bank led the rally with a 1.5 percent gain, followed by Nifty Metal, which added 1 percent. Nifty Bank, Auto, Private Bank, and Consumer Durables also advanced, each rising 0.7 percent. Meanwhile, Nifty Media was the sole major laggard, slipping 1 percent.
Here is how financial markets across the globe fared overnight:
GIFT Nifty (Up)
The GIFT Nifty is trading higher at around 25,163.50, indicating a positive start for the day.
Asian Equities (Mixed)
Asian markets opened on a cautious note as the Israel-Iran truce appeared to hold and Federal Reserve Chair Jerome Powell gave balanced comments on prospects for rate cuts.
US Equities (Gain)
US stocks rallied more than 1% on Tuesday as investors welcomed a fragile truce with Israel and Iran while parsing Federal Reserve Chair Jerome Powell's congressional testimony for clues regarding the U.S. central bank's path forward.
The Dow Jones Industrial Average rose 507.24 points, or 1.19%, to 43,089.02, the S&P 500 gained 67.01 points, or 1.11%, to 6,092.18, and the Nasdaq Composite gained 281.56 points, or 1.43%, to 19,912.53.
US Bond Yield (Down)
Yields on 10-year Treasuries were up marginally at 4.3 percent, while 2-year Treasuries shed 3 percent at 3.79 percent in the early trade on Wednesday.
Dollar Index (Flat)
The dollar struggled to regain lost ground on Wednesday as investors who have been starved of good news latched onto optimism over a fragile truce between Israel and Iran as a reason to take on more risk.
Asian currencies (Up)
All the Asian currencies were trading higher in the early trade on Wednesday, with the Indonesian Rupiah leading the gainers, followed by the Philippines Peso, the Taiwan Dollar, the Malaysian Ringgit, the Japanese Yen, Thai Baht.
Crude (Gains)
Oil prices edged higher on Wednesday, finding some respite after plummeting in the last two sessions, as investors assessed the stability of a ceasefire between Iran and Israel.
Gold (Up)
The Gold prices were trading a little higher at around $3,332 an ounce, while Silver prices up marginally at around USD 36 per ounce.
Fund Flow Action
The Foreign institutional investors (FIIs) continued their selling on the second day on June 24 as they offloaded equities worth Rs 5,266 crore. On the other hand, Domestic institutional investors (DIIs) extended their buying on the second day, as they purchased equities worth Rs 5,209 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.