Indian benchmark indices may ring opening bells on a flat note

5 Jan 2024 , 08:43 AM

Domestic equity indices may start today’s session with muted numbers. Yesterday, markets closed with a positive sentiment as Fed rate cut expectations seemingly raised investor concerns. BSE Sensex closed 491 points higher at 71,848. NSE Nifty ended with an uptick of 141 points at 21,659.

On the global front, US markets kept a dim tone on the release of Fed data. Dow Jones closed 10 points higher only. Nasdaq Composite ended with a decline of 82 points. S&P 500 index closed with a downside of 18 points.

Asian stocks are trading in mixed cues, tracking the global peers. Chinese Shanghai Composite is trading 0.22% higher. Japan’s Nikkei 225 closed with a gain of 0.46%. Hong Kong’s Hang Seng index is trading higher by 0.16%. South Korean Kospi index is seen with a decline of 0.07%. Taiwan index is trading flat.

Bajaj Finance, Tata Consumer, NTPC, ONGC, and IndusInd Bank were the shining stocks in previous session. Dr Reddy’s, BPCL, LTIMindtree, HCLTech, and Hero MotoCorp closed in low spirits yesterday.

The rupee rose 6 paise to settle at 83.24 vs the US dollar on Thursday, aided by a positive trend in local markets and the American currency’s weakness in the international market. On Friday, gold prices were on course for their first weekly drop in four weeks, as fading prospects of an early interest rate decrease in the United States bolstered the dollar.

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