Indian equity indices are expected to open on a flat note following mixed global cues. The Asian indices were mostly lower in morning trade. The GIFT Nifty was trading 0.10% higher at 25,682. Here are key global cues to watch before the market opens that include crude oil prices, FII and DII data, business groups that most, sectoral performance, etc. 

Earlier on Tuesday, the NSE Nifty 50 closed the session 25 points or 0.10% lower at 25,542, while the BSE Sensex declined 91 points or 0.11% to close at 83,697.

Asia-Pacific markets traded lower on Wednesday morning as investors watched the US Fed Chair Jerome Powell’s comments on rate cuts. Japan’s benchmark Nikkei 225 slid 1.32%, and the Topix lost 0.64%. South Korea’s Kospi was 0.42% lower while the Kosdaq was flat. Powell said that the bank would have already cut rates if it weren’t for US President Donald Trump’s tariff initiatives.

The US markets closed Tuesday’s session on a mixed note as investors weighed the latest developments with President Donald Trump’s giant tax and spending bill and comments from Powell. The S&P 500 lost 0.11% and closed at 6,198.01, while the Nasdaq Composite fell 0.82% to settle at 20,202.89. However, the blue-chip Dow Jones Industrial Average was the outlier, gaining 400.17 points, or 0.91%, to end at 44,494.94.

The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, was trading 0.05% lower at 96.63 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 0.27% to close at 85.52 to the dollar on July 01. 

The crude oil prices continued to trade on a lower note on Wednesday morning. WTI crude prices were trading at $65.35, down by 0.16%, while Brent crude prices were trading at $67.09, down by 0.03%. 

Foreign institutional investors (FII) were the net sellers of shares worth Rs 1,970.03 crore. On the other hand, the Domestic institutional investors (DII) were the net buyers of shares worth Rs 725.60 crore on July 02, 2024, according to the provisional data available on the NSE.

The rate for 24-carat gold today is Rs 97,580 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 0.05% in the past one month. The 22 kt gold rate today is Rs 89,448 per 10 grams. The 18-carat gold price today is Rs 73,185.

The glass sector’s stocks surged the most in terms of market capitalisation by 2% in Tuesday’s trade, and petroleum stocks followed the cable sector stocks. The electronics sector stood behind the paints sector, climbing 0.9%, and it was followed by gems and jewellery stocks that rose 0.76%.

The small group majorly surged in Tuesday’s trade. The Nagarjuna Group’s market capitalisation has risen the most, gaining almost 5%. Essar Group surged 4.7%. The Apollo Hospitals group rose 3.3%. On the other side, the Pennar Group fell the most, followed by Essel Group.