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

Indian benchmark indices, Sensex and Nifty, are expected to open with a neutral to slightly positive bias today, December 17. This outlook is influenced by the GIFT Nifty, which is currently trading lower around 25,937.

Yesterday, December 16, Indian equity markets closed lower for the second consecutive session in a volatile trading environment. The rupee's continued depreciation and uncertainties surrounding a potential India-US trade agreement contributed to the decline. At the close of trading, the Sensex fell by 533.50 points (0.63%) to reach 84,679.86, while the Nifty dropped by 167.20 points (0.64%) to settle at 25,860.10. The BSE Midcap and Smallcap indices also experienced declines of nearly 1% each.

Here's a snapshot of how key financial markets performed overnight:

• GIFT Nifty:** Trading marginally higher around 25,937, suggesting a flat to positive opening.
• Asian Equities:** Most Asian shares saw a slight dip, mirroring Wall Street's performance after US jobs data offered little impetus for further Federal Reserve interest-rate cuts.
• US Equities:** The Nasdaq Composite managed to close higher on Tuesday, while the S&P 500 and the Dow Jones Industrial Average both declined, weighed down by losses in healthcare and energy sectors. Investors are closely watching economic data to assess the Federal Reserve's monetary policy direction for the coming year. The Dow Jones Industrial Average decreased by 302.30 points (0.62%) to 48,114.26, the S&P 500 fell by 16.25 points (0.24%) to 6,800.26, and the Nasdaq Composite rose by 54.05 points (0.23%) to 23,111.46.
• US Bond Yield:** The yield on 10-year Treasuries remained relatively stable at 4.15%, while the 30-year Treasury yield saw a marginal increase to 3.49%.
• Dollar Index:** The U.S. dollar showed little movement against major currencies in early trading Wednesday.
• Asian Currencies:** Most Asian currencies gained ground in early Wednesday trading, with the exception of the Indonesian Rupiah, Thai Baht, and South Korean Won.
• Crude Oil:** West Texas Intermediate crude oil prices increased by 1% following President Trump's announcement of a “total and complete blockade of all sanctioned oil tankers” linked to Venezuela.
• Gold:** Gold prices remained steady, as Tuesday's US jobs data had minimal impact on expectations for future interest-rate cuts.

Regarding fund flows, Foreign Institutional Investors (FIIs) continued their selling trend on December 16, offloading equities worth Rs 2381 crore. Conversely, Domestic Institutional Investors (DIIs) purchased equities worth Rs 1077 crore on the same day.

Wishing you a successful and profitable trading day!

*Disclaimer: Investment views expressed are those of individual experts and do not represent Moneycontrol.com. Consult with a certified expert before making investment decisions.*