Indian benchmark indices may open on a flat note

20 Feb 2024 , 08:57 AM

Domestic equity indices may start today’s session with muted numbers. Yesterday, markets closed with some gains. BSE Sensex closed 282 points higher at 72,708 points. NSE Nifty closed with a gain of 82 points at 22,122.

On the global front, US markets closed on the downside as investors sought more cues from the Federal Reserve. Dow Jones closed 145 points lower. Nasdaq Composite ended with a decline of 131 points. S&P 500 closed 24 points down.

Asian equities fell below one-and-a-half-month highs on Tuesday, as even a greater-than-expected interest rate decrease in China failed to thrill investors who had grown weary of the lack of stronger stimulus measures.

Chinese Shanghai Composite is down by 0.09%. Japan’s Nikkei closed with a decline 0.08%. Hong Kong’s Hang Seng is trading 0.22% lower. South Korean Kospi index is down by 1.06%. Taiwan index is trading 0.38% higher.

On the nifty index yesterday, Grasim Industries, Bajaj Finserv, Bajaj Auto, Cipla, and Bharti Airtel emerged as the biggest gainers. Coal India, Larsen & Toubro, SBI Life, Wipro, and HDFC Life were the biggest laggards.

Oil prices were little changed in early Asian trade on Tuesday, staying near three-week highs due to rising Middle East tensions and improving Chinese demand.

Gold prices fell in early Asian hours on Tuesday, weighed down by a slightly stronger dollar and higher treasury rates, as traders anticipated more clues from the minutes of the US Federal Reserve’s most recent meeting.

Nifty midcap stocks pared 0.09% in the previous session. Nifty Smallcap stocks closed 0.11% higher.

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