Indian benchmark indices may open on a weak foot

16 Jan 2024 , 09:06 AM

Domestic equity indices may start today’s session on the negative side. Yesterday, markets closed and concluded the session with substantial gains. BSE Sensex closed 760 points higher at 73,327. NSE Nifty ended with a gain of 203 points at 22,097.

On the global, US markets closed under pressure on 12th January. Dow Jones closed 118 points lower. Nasdaq Composite ended flat. S&P 500 closed marginally higher.  Investors now await for the markets to open as they were closed on January 15, 2023.

Asian stocks are all trading in a sluggish momentum. Chinese Shanghai Composite is trading 0.11% lower. Japan’s Nikkei 225 closed 0.31% lower. Hong Kong’s Hang Seng index is trading with a decline of 1.16%. South Korean Kospi index is trading 0.73% lower. Taiwan index is trading down by 0.76%.

On the other hand, on the nifty index, the top gainers were Wipro, ONGC, HCL Tech, Infosys, and HDFC Bank. Top laggards were HDFC Life, Bajaj Finance, Bajaj Finserv, Hindalco, and Eicher Motors.

The rupee rose for the ninth straight day on Monday, rising 9 paise to 82.86 versus the US dollar, boosted by a surge in local equities markets and fresh foreign capital inflows.

Oil prices rose marginally on Tuesday as the Middle East situation worsened and more ships diverted away from the Red Sea in response to raids by Yemen’s Houthi movement.

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