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

As per the latest business developments, Indian key market indices are likely to open flat to marginally elevated on September 25, tracking GIFT Nifty, which was trading around 23,123.50 in early session.

Track the latest updates on GIFT Nifty right here on Moneycontrol

Indian key market indices ended sharply softer on September 24, amid weak global cues as the US benchmark Treasury yield advanced to its highest level since 2007, while oil price marks surged to $105 a barrel.

After a weak opening, selling intensified through the session, with earnings booking noted across sectors, particularly banks and NBFCs.

The Nifty eased to an intraday low of 23,046.15, breaching its June 11 low of 23,072, while the Sensex additionally came under heavy selling pressure, along with the broader markets.

At close, the Sensex was down 1,247.71 points or 1.67 percent at 73,580.54, and the Nifty was down 383.70 points or 1.64 percent at 23,063.10.

Broader markets additionally ended weak with Nifty midcap index falling 2 percent and smallcap index declining 1.5 percent.

Here is how financial markets across the globe fared overnight:

GIFT Nifty was trading marginally elevated at around 23,123.50 in early session, pointing to a flat-to-positive opening for the domestic equity markets.

Asian stocks were trading elevated in the early session on Friday, with Nikkei index up nearly 1%.

The S&P 500 ended marginally ​down on Thursday, with Microsoft dipping and Meta Platforms rising, as uncertainty around the Middle East lifted crude prices and Treasury ‌yields.

The S&P 500 declined 0.02% to end the session ​at 7,704.13 points.

The Nasdaq edged up 0.01% to 26,939.37 points, while the Dow Jones Industrial Average declined 0.31% to 51,349.98 points.

The dollar was set for its first back-to-back weekly upside in more than three months on Friday, as surging Treasury yields and mounting bets on further The US central bank rate hikes kept the greenback near multi-month peaks.

The dollar index was down marginally against the other major currencies in the early Friday trade.

A global bond selloff extended into Asia as elevated crude prices stoked inflation concerns, pushing long-term Treasury yields to multi-decade highs and fueling expectations for further interest-rate hikes by the The US central bank

The 10-year yield was down marginally at 5.28% and yield on 2-year Treasuries was down more than 2 basis points at 4.90%.

Asian currencies traded mixed against the US dollar. The Indonesian Rupiah softened 0.55%, while the Taiwan Dollar declined 0.33% and the Chinese Renminbi eased 0.03%.

On the other hand, the South Korean Won advanced 0.49%, followed by the Malaysian Ringgit, Thai Baht and Japanese Yen, which advanced 0.39%, 0.19% and 0.13%, respectively. The Philippines Peso and Singapore Dollar were largely steady, rising 0.07% and 0.03%, respectively.

Crude prices declined slightly on Friday as markets weighed the possibility of a truce between the US and Iran against the bombing of Saudi Arabia by Houthi rebels after a week of price spikes.

Brent was down 0.65%, to $105.85 a barrel, while West Texas Intermediate (WTI) was down 1%, at $93.80 a barrel.

Gold was set to end to the week softer as elevated energy prices continued to fuel expectations the The US central bank will need to mobilize interest rates further to combat inflation.

Bullion was trading around $4,270 an ounce, down more than 2% since last Friday.

Foreign institutional market participants (FIIs) remained heavy sellers, offloading equities worth over ₹5,000 crore on September 24, while domestic institutional market participants (DIIs) extended their buying streak, purchasing equities worth around ₹4,300 crore during the session.

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