Markets Primed for a green day

9 Jun 2023 , 09:08 AM

Markets may have a positive day today. Yesterday, markets closed in the red territory following RBI’s decision to leave the key policy rate unchanged.

Globally, US markets wrapped up their previous session with gains. Dow Jones closed 169 points higher. Nasdaq ended 133 points higher. S&P 500 closed up by 26 points.

Asian peers edge up over Fed rate pause bets, tracking the overnight gains on Wall Street. Chinese Shanghai Composite is trading 0.12% higher. Hong Kong’s Hang Seng is trading marginally higher. Japan’s Nikkei 225 closed with a gain of 1.61%. Taiwan index is trading higher by 0.92%. South Korean ‘Kospi’ is trading 25 points higher.

Nifty 50 ended 92 points lower. Nifty Bank closed 280 points lower in yesterday’s trade. Markets were primarily dragged by Nifty Auto, Realty, IT, and Media indices. 

The gainers’ chart was led by NTPC, JSW Steel, ONGC, Power Grid, and Larsen & Toubro. Grasim, Kotak Bank, Sun Pharma, Tata Consumer, and Tech Mahindra were the top laggards.

Oil prices head for their second weekly loss as demand concerns outweigh the potential impact of reduced supply from global producers.

Indian rupee could be seen higher on Friday against the greenback as US job data lent some support to the Fed rate pause.