First Tick: Key Global Trade Cues for Today's Market

Indian benchmark indices, Sensex and Nifty, are likely to open on a positive note today, January 20, with cues coming from GIFT Nifty, which was trading higher at around 25,605.50. Track the latest updates on GIFT Nifty right here on Moneycontrol. Indian equities began the week on a subdued note, with the Nifty falling below 25,500 intraday as weak global cues triggered broad-based profit booking. The renewed concerns over a potential global trade war and mixed earnings weighed on sentiment. However, select buying in FMCG and auto stocks provided support, helping the benchmarks recover from the day’s lows. At close, the Sensex was down 324.17 points or 0.39 percent at 83,246.18, and the Nifty was down 108.85 points or 0.42 percent at 25,585.50. Here is how financial markets across the globe fared overnight: GIFT Nifty (Up) The GIFT Nifty is trading higher at around 25,605.50, indicating a positive start for the day. Asian Equities (Down) Asia-Pacific markets traded subdued as Japan’s long-dated government bond yields hit new highs, with investors also weighing renewed U.S. tariff threats tied to Greenland. US Equities (Shut) US equity markets were closed on Monday for Martin Luther King Jr. Day. US Bond Yield (Up) Treasuries joined a selloff in global bonds on Tuesday as escalating trade tensions spurred by proposed US tariffs relating to Greenland undermined demand for American assets. The yield curve bear steepened as cash trading resumed following a US holiday, with 10- and 30-year yields both climbing three basis points in early Asia trading. Dollar Index (Slips) The dollar retreated to its lowest level in a week in early trading on Monday after threats from the White House towards the European Union over the future of Greenland triggered a broad selloff across U.S. stocks and government bonds. Asian Currencies (Mixed) The won slips as South Korea’s stock benchmark looks set to end a 12 day rally, with fading risk appetite from US Europe tensions and firm dollar demand underpinning the exchange rate. The yen edged higher against the dollar, gaining as much as 0.2% to 157.85. Crude (Up) Oil prices rose on Tuesday after better-than-expected economic growth data from China lifted demand optimism, with markets also watching President Donald Trump's threats of increased U.S. tariffs on European nations over his desire to buy Greenland. Gold (Flat) The precious metals trade flat, after rising sharply in the previous session following Trump’s pledge to put tariffs on eight European nations that opposed his Greenland ambitions. Fund Flow Action Foreign institutional investors (FIIs) extended their selling streak for the 10th consecutive session on January 19, offloading equities worth approximately Rs 3,262 crore, while domestic institutional investors (DIIs) remained net buyers with purchases of around Rs 4,234 crore. Hope you're all set for today's trade. We wish you a profitable day ahead.