Markets may start on the flipside

21 Sep 2023 , 08:12 AM

Indian benchmark indices may open on the negative side today. Yesterday, markets closed with substantial losses. Sensex closed 796 points lower at 66,801. Nifty 50 ended with a decline of 232 points at 19,901.

Globally, US markets closed in the red territory as well after the US Federal Reserve kept the interest rates unchanged. Dow Jones closed 77 points lower. Nasdaq closed, down by 209 points. S&P 500 ended with a decline of 42 points.

Asian equities are trading under pressure tracking Wall Street’s lead on Thursday. Chinese Shanghai Composite is trading 0.46% lower. Hong Kong’s Heng Seng is trading at 1.19% lower. Japan’s Nikkei 225 ended with a decline of 1.08%. Taiwan index is trading 1.19% lower. South Korean Kospi index is trading 1.14% down.

Nifty Midcap 50 stocks closed flat. Nifty Bank closed over 1% lower.

Top gainers in the previous trading session were Power Grid, Coal India, ONGC, Asian Paints, and Sun Pharma. HDFC Bank, JSW Steel, Reliance Industries, BPCL, and Ultratech Cement emerged as the biggest losers.

The rupee rose 21 paise to settle at 83.11 against the US dollar on Wednesday, continuing its remarkable recovery from lifetime lows. Oil prices dipped in early Asian trade on Thursday after plunging the most in a month in the previous session due to expectations of a rate hike in the United States.