The benchmark indices, BSE Sensex and Nifty 50, are likely to see a positive start on June 24, mirroring gains in the GIFT Nifty, which was trading around 23,892.50 in early trade.
Track the latest updates on GIFT Nifty right here on Moneycontrol
Indian equity indices ended sharply lower on June 23 with Nifty closing below 23,850 amid weak global markets and uncertainty surrounding US-Iran peace talks weighed heavily on market sentiment.
At close, the Sensex was down 893.39 points or 1.16 percent at 76,200.68, and the Nifty was down 278.80 points or 1.16 percent at 23,824.10.
Here is how financial markets across the globe fared overnight:
GIFT Nifty (Gains)
GIFT Nifty is trading higher at around 23,892.50, signalling a firm opening for the domestic benchmark indices.
Asian Equities (Down)
Stocks in Asia staged a cautious recovery from Tuesday’s global tech-led selloff that renewed concerns that the artificial intelligence-driven equity rally may have run too far, too fast.
US equities (Slip)
The Nasdaq and the S&P 500 closed at more than one-week lows on Tuesday, dragged down by sharp losses in semiconductor stocks as investors scrutinized growing debt-funded AI spending and braced for a more hawkish US Federal Reserve.
The Dow Jones Industrial Average fell 47.22 points, or 0.09%, to 51,665.49, the S&P 500 lost 107.32 points, or 1.44%, to 7,365.47 and the Nasdaq Composite lost 579.56 points, or 2.21%, to 25,587.04.
Dollar Index (Flat)
The US dollar index, which measures the greenback’s strength against a basket of six currencies, was trading with little changed.
US Bond Yield (Flat)
The yield on 10-year Treasuries and 2-year Treasuries were down marginally at 4.88% and 4.19%, respectively.
Asian Currencies (Down)
Asian currencies traded mostly lower against the US dollar on June 24, with the Thai baht emerging as the worst performer among major regional peers.
The Thai baht declined 0.36 percent from its previous close, followed by the China renminbi, which slipped 0.23 percent. The Philippine peso and South Korean won also weakened 0.20 percent and 0.19 percent, respectively, amid cautious sentiment in Asian markets.
The Malaysian ringgit fell 0.18 percent, while the Indonesian rupiah lost 0.09 percent. Losses were relatively limited in the Singapore dollar, Taiwan dollar and Japanese yen, which eased 0.05 percent, 0.05 percent and 0.04 percent, respectively.
Crude (Down)
Oil extended declines as more tankers openly cross the Strait of Hormuz, while the US and Iran signal progress toward ending the war.
Gold (Falls)
Gold extended a decline, as a tech-led selloff on Wall Street prompted investors to cut bullion
holdings to cover losses elsewhere in their portfolios.
Fund Flow Action
Foreign Institutional Investors (FIIs) turned net buyers on June 23 after purchasing equities worth Rs 17 crore. Domestic Institutional Investors (DIIs) continued to lend support to the market, buying shares worth Rs 680 crore during the session.
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