Indian equity indices are expected to open on a higher note following positive global cues. The US indices closed trading in the green. The GIFT Nifty was trading 0.23% higher at 25,200. Here are key global cues to watch before the market opens that include new crude oil prices, FII and DII data, business groups that most, sectoral performance, etc. 

Earlier on Thursday, the NSE Nifty 50 closed the session 100 points or 0.40% lower at 25,111, while the BSE Sensex surged 375 points or 0.45% to close at 82,259.

Asia-Pacific markets were mostly trading on a higher note on Friday, tracking overnight gains in the US markets on the better-than-expected economic data and corporate earnings. Japan’s benchmark Nikkei 225 rose 0.39% at the open, while the Topix climbed 0.26%. South Korea’s Kospi added 0.21% and the small-cap Kosdaq was 0.28% higher

The US benchmarks closed Thursday’s trading in the green, with economic data coming ahead of expectations, along with a slew of corporate earnings. The S&P 500 added 0.54% and ended at 6,297.36. The Nasdaq Composite gained 0.75%, settling at 20,885.65 and posting its tenth record close of the year. The Dow Jones Industrial Average added 229.71 points, or 0.52%, ending at 44,484.49.

The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, was trading 0.18% lower at 98.47 on Friday morning. The index evaluates the strength or weakness of the US dollar in comparison to major currencies. The basket contains currencies such as the British Pound, Euro, Swedish Krona, Japanese Yen, Swiss Franc, etc. The rupee depreciated 0.15% to close at 86.08 to the dollar on July 17. 

The crude oil prices traded on a lower note on Friday morning. WTI crude prices were trading at $67.48, up by 0.05%, while Brent crude prices were trading at $69.52, up by 0.01%. 

Foreign institutional investors (FII) were the net sellers of shares worth Rs 3,670.86 crore. On the other hand, the Domestic institutional investors (DII) were the net buyers of shares worth Rs 2,717.50 crore on July 7, 2024, according to the provisional data available on the NSE.

The rate for 24-carat gold today is Rs 97,890 per 10 grams, consolidating near its all-time high. The safe haven’s price is near the Rs 1 lakh mark. The rate of gold has fallen by 1.82% in the past one month. The 22 kt gold rate today is Rs 89,733 per 10 grams. The 18-carat gold price today is Rs 73,418.

In the broader market, the non-alcoholic beverages sector saw a 2.24% increase in market capitalisation. Tea and coffee stocks rose 2.05%, and the glass sector added 2.01%. Other sectors like edible fats and leather posted gains of 1.71% and 1.43%, respectively.

The Nagarjuna Group’s market capitalisation has risen the most in the previous session, gaining almost 4.7%. Poddar Group surged 3.11%, following Nagarjuna. Further, the Pennar group rose 2.3%. On the other side, the Jaypee Group fell the most, followed by the Future Group.