Markets may open on negative side

3 Oct 2023 , 09:15 AM

Indian benchmark indices may start today’s session on a negative today. On Friday, markets closed 320 points higher at 65,828. Nifty 50 closed up by 115 points at 19,638.30.

Globally, US markets closed on a sluggish note. Dow Jones closed 74 points higher. Nasdaq Composite closed 88 points higher. S&P 500 closed on a flat note.

Asian equities fell on Tuesday after the Fed Reserve’s view that US interest rates are likely to remain hiked for some time. Chinese Shanghai Composite closed 0.10% higher. Hong Kong’s Heng Seng was trading 3.31% lower. Japan’s Nikkei 225 closed, down by 1.24%. Taiwan index closed 0.27% lower. South Korean Kospi closed marginally higher.

Nifty Midcap 50 stocks closed 1.38% higher. Nifty Bank was higher by 0.64% in Friday’s session.

Hindalco, NTPC, Dr Reddy’s, Hero MotoCorp, and Tata Motors were the top gainers on Friday. Adani Enterprises, LTIMindtree, Infosys, HCL Tech, and Nestle India emerged as the biggest losers. 

The rupee rose 13 paise to 83.06 against the US dollar on Friday, bolstered by a strong trend in equity markets. Oil prices fell in early Asian trade on Tuesday after plunging to a three-week low in the previous session, owing to a strengthening US currency and traders taking profits after the previous quarter’s large gains.