First Tick: Top global cues to watch in today’s Market
Foreign Institutional Investors (FIIs) emerged as net buyers on April 15, purchasing equities worth ₹666 crore, while Domestic Institutional Investors (DIIs) turned net sellers, offloading equities worth ₹568 crore.
Indian equity benchmarks, the BSE Sensex and Nifty 50, are likely to open on a positive note on April 16, tracking positive cues from GIFT Nifty, which is trading higher around 24,355.
Track the latest updates on GIFT Nifty right here on Moneycontrol.
Indian benchmark indices staged a strong rebound on April 15, with the Nifty comfortably closing above the 24,200 mark. The rally was driven by easing geopolitical concerns following optimism around renewed US-Iran peace talks, which led to a sharp decline in crude oil prices.
At close, the Sensex was up 1,263.67 points or 1.64 percent at 78,111.24, and the Nifty was up 388.65 points or 1.63 percent at 24,231.30.
Here is how financial markets across the globe fared overnight:
GIFT Nifty (Up)
GIFT Nifty was trading higher at around 24,355, indicating a firm opening for the Indian equity markets.
Asian Equities (Gain)
Stocks pushed higher in early Asia trading on Thursday as optimism grew about a deal to end the Iran war with the US ratcheting up pressure on Tehran, while traders prepared for a raft of economic data and critical earnings reports.
US Equities (Up)
On Wall Street, the benchmark S&P 500 and tech-heavy Nasdaq Composite rallied to record closing highs on Wednesday as investors were encouraged by corporate earnings and hopeful of progress in US-Iran negotiations.
The Nasdaq notched a record finish for the first time since October 29 and briefly touched an intraday record high with boosts from software stocks and the broader technology sector, just 13 trading days after confirming that it was in a correction due to worries about the Middle East war.
The Dow Jones Industrial Average fell 72.27 points, or 0.15%, to 48,463.72, the S&P 500 gained 55.57 points, or 0.80%, to 7,022.95 and the Nasdaq Composite gained 376.93 points, or 1.60%, to 24,016.02. The Nasdaq also boasted an 11-session winning streak for the first time since November 2021.
Dollar Index (Down)
As Middle East tensions cooled, the dollar — which had emerged as the haven of choice during the conflict — was a touch weaker on Thursday, with the Dollar Index set for its longest losing streak since December 2006.
US Bond Yield (Down)
The yield on the benchmark 10-year fell one basis point to 4.27% as lower oil prices reduced the
risk of stoking inflation.
Asian Currencies (Up)
In early Thursday trade, most Asian currencies strengthened against the US dollar, led by the Thai Baht. The Malaysian Ringgit, Singapore Dollar, Japanese Yen, and Philippine Peso also posted gains, while the Chinese Renminbi and Indonesian Rupiah lagged.
Crude (Down)
Oil prices fell in early trade on Thursday as hopes for easing US-Iran tensions, following reports that Iran could allow ships to pass through around the Strait of Hormuz, outweighed concerns over ongoing supply disruptions.
Gold (Up)
Gold edged higher as a renewed push for a diplomatic resolution to the Iran war eased inflation concerns, despite continued tensions around the Strait of Hormuz.
Fund Flow Action
Foreign Institutional Investors (FIIs) emerged as net buyers on April 15, purchasing equities worth Rs 666 crore, while Domestic Institutional Investors (DIIs) turned net sellers, offloading equities worth Rs 568 crore.
Hope you’re all set for today’s trade. We wish you a profitable day ahead.
Source : Money Control
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