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

Reports coming in for today mention that Indian key market indices are likely to see a negative opening on October 1, tracking GIFT Nifty, which was trading around 22,631.50 in early session.

Track the latest updates on GIFT Nifty right here on Moneycontrol

Indian equity indices failed to hold on to intraday upside and ended marginally softer on September 30, extending their losing streak for the third consecutive session.

The market started on a positive note, with the Nifty opening the October series on a firm footing and crossing the 22,800 mark intraday. That stated, the indices failed to sustain the upside, with final-hour selling erasing most of the day's advances in a volatile session. Buying in banking and media stocks was offset by selling pressure in metal and pharma names.

At close, the Sensex was down 48.78 points or 0.07 percent at 72,480.29, and the Nifty was down 95.75 points or 0.42 percent at 22,620.45.

Broader indices outperformed the key market indices, with the Nifty Midcap index ending in the green, while the Nifty Smallcap index advanced 0.3 percent.

Here is how financial markets across the globe fared overnight:

GIFT Nifty was trading softer at around 22,631.50 in early session, indicating a soft opening for the domestic equity markets.

Asian stocks were subdued on Thursday and global bonds remained under pressure after a brutal September as market participants weighed a slower-than-anticipated climb in US inflation in August that lessens the probability of a interest-rate gain later this month.

Nasdaq advanced on Wednesday, and the S&P 500 dipped, but both indexes notched their second straight quarterly upside, as a softer-than-anticipated inflation reading cooled expectations that The US central bank policymakers ​would hike rates in October.

The Dow Jones Industrial Average declined 443.87 points, or 0.86%, to 50,906.05, the S&P 500 lost 19.30 points, or 0.25%, ‌to 7,651.54, and the Nasdaq Composite advanced 63.52 points, or 0.24%, to 26,861.06.

The S&P had risen as much as 0.7% while the Nasdaq had advanced as much as 1.2% on the session.

The dollar held near a two-month high on Thursday, supported by an extended climb in US Treasury yields partly fuelled by concerns over persistent global price pressures stemming from the Middle East war.

The yield on 10-year Treasuries was up marginally to 5.28%, and the yield on 2-year Treasuries was down little at 4.88%.

Asian currencies traded mixed against the US dollar in early session. The Indonesian rupiah advanced 0.49%, while the Chinese renminbi rose 0.02%.

On the other hand, the South Korean won declined 0.23%, followed by the Japanese yen, down 0.27%. The Philippines peso declined 0.12%, while the Taiwan dollar eased 0.14%. The Malaysian ringgit and Singapore dollar softened 0.15% and 0.10%, respectively, while the Thai baht eased 0.10%.

Crude prices were nearly flat in early Asia trade on Thursday, following the previous day's upside and steep monthly rises, as market participants assessed the outcome of US-Iran peace talks and the outlook for Middle East crude exports.

Brent crude futures rose 12 cents or 0.1%, to $98.15 a barrel, while US West Texas Intermediate crude was at $90.35 a barrel, down 7 cents, or 0.1%.

Gold opened the month steady as softer inflation data lowered bets that the The US central bank will raise interest rates at its next meeting, while high bond yields left the door open to renewed selling.

Bullion was trading around $4,155 an ounce, after falling 0.6% the day before. The Fed’s preferred measure of underlying inflation, the personal consumption expenditure price index excluding food and energy, rose a less-than-anticipated 0.2% in August. The prior month was additionally revised softer.

Foreign institutional market participants (FIIs) remained net sellers for the fifth consecutive session on September 30, offloading equities worth more than ₹10,000 crore. In the meantime, domestic institutional market participants (DIIs) continued to provide backing, buying equities worth ₹11,271 crore during the session.

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