Indian benchmark indices may open flat

16 Nov 2023 , 08:59 AM

Domestic equity indices may start today’s session with muted numbers. Yesterday, markets closed at a higher note owing to lifted investor sentiment. Sensex closed 742 points higher at 65,676. Nifty 50 ended with a gain of 232 points at 19,675.

On the global front, US markets closed in a positive territory as US data pointed at strengths in parts of the economy. Dow Jones closed 164 points higher. Nasdaq Composite index ended flat. S&P 500 closed on the positive side.

Asian equities are trading under pressure as investors are looking for a pause in Fed policy tightening. Chinese Shanghai Composite is trading 0.48% lower. Hong Kong’s Hang Seng is trading with a decline of 1.71%. Japan’s Nikkei 225 closed 0.67% down. Taiwan index is trading 0.125 lower. South Korean Kospi index is trading 0.20% lower.

Nifty Midcap 50 closed nearly 1% higher. Bank index closed with a gain of 0.71%.

Eicher Motors, Tech Mahindra, Hindalco, Infosys, and Tata Motors were the top gainers in previous session. Bajaj Finance, Power Grid, IndusInd Bank, Dr Reddy’s, and Cipla emerged as the top laggards.

The rupee rose 24 paise to settle at 83.09 versus the US dollar on Wednesday, as the American currency fell from its highs after US inflation came in lower than predicted.

Oil prices fell on Thursday, extending losses from the previous session, as signs of increased production from the United States clashed with concerns about Asia’s weak energy demand.

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