Indian benchmark indices may open on a sluggish note

9 Feb 2024 , 08:49 AM

Domestic equity indices may start today’s session with negative numbers. Yesterday, markets closed in red territory with heavy declines. BSE Sensex closed 724 points lower at 71,428. NSE Nifty closed 213 points lower at 21,718. 

On the global front, US markets closed in modest gains. Dow Jones closed with a gain of 49 points. Nasdaq Composite index ended with a jump of 37 points. S&P 500 closed 2 points higher.

Asian markets are trading in a mixed trajectory as some of the indices saw gains owing to strong quarterly earnings. Chinese Shanghai Composite is trading 1.28% higher. Japan’s Nikkei 225 closed with a gain of 0.45% buoyed by strong quarterly earnings. Hong Kong’s Hang Seng Index is trading 1.5% lower. South Korean Kospi index is trading 0.41% higher. Taiwan index is seen with a gain of 0.20%.

Yesterday, on the nifty index, SBI, BPCL, Power Grid, Coal India, and Hindalco emerged as the top gainers. On the other hand, Kotak Bank, Britannia Industries, Axis Bank, Nestle India, and Eicher Motors ended as the biggest losers.

Oil prices increased in early trade on Friday, setting up for weekly gains, as tensions in the Middle East remained high after Israel rejected Hamas’ cease-fire request.

The rupee closed steady at 82.96 versus the US dollar on Thursday, as the Reserve Bank chose to hold the key policy rate unchanged for the sixth day in a row to keep a close eye on inflation.

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