Indian equity indices are expected to open on a lower note following negative global cues. The Asian indices were trading in the red in morning trade. The GIFT Nifty was trading 0.38% lower at 25,169. 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 Tuesday, the NSE Nifty 50 closed the session 113.50 points or 0.45% higher at 25,195.80, while the BSE Sensex surged 317 points or 0.39% to close at 82,571.

Asia-Pacific markets were trading on a lower note after the US President Donald Trump struck a preliminary trade agreement with Indonesia, imposing a 19% tariff on Indonesian imports. Japan’s benchmark Nikkei 225 was flat at the open, while the Topix slipped 0.11%. South Korea’s Kospi lost 0.5% and the small-cap Kosdaq was 0.56% lower.

The future contracts tied to the US benchmarks were trading in the red on Wednesday as worries over the US inflation and a mixed bag of big bank earnings dragged. Futures tied to the Dow Jones Industrial Average pulled back 105 points, or 0.2%, while S&P 500 futures lost almost 0.3%. Nasdaq 100 futures slipped 0.3%.

The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, was trading 0.09% lower at 98.55 on Wednesday 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 appreciated 0.21% to close at 85.81 to the dollar on July 15. 

The crude oil prices traded on a higher note on Wednesday morning. WTI crude prices were trading at $66.94, up by 0.63%, while Brent crude prices were trading at $69.03, up by 0.46%. 

Foreign institutional investors (FII) were the net buyers of shares worth Rs 104.49 crore. On the other hand, the Domestic institutional investors (DII) were the net buyers of shares worth Rs 1,477.58 crore on July 15, 2024, according to the provisional data available on the NSE.

The rate for 24-carat gold today is Rs 97,600 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 surged by 0.84% in the past one week. The 22 kt gold rate today is Rs 89,467 per 10 grams. The 18-carat gold price today is Rs 73,200.

Sectoral performance showed mixed trends, but Fertilisers and Cables emerged as the clear winners. The fertiliser sector recorded a 2.32% jump in market capitalisation, while cables followed closely with a 2.26% rise. The Non-Alcoholic Beverages segment also saw momentum with a 1.75% gain, and Edible Fat logged a 1.66% rise in market value.

Among major business groups, Nagarjuna Group led the day with a 4.64% rise in market cap. The Hero Group and Dhanuka Group both saw gains of 4.42%, while Pennar Group rose by 4.37%.