Indian benchmark indices may see a flat morning

18 Apr 2024 , 08:48 AM

Domestic equity indices may start Thursday’s session with muted numbers. Yesterday, markets closed in a negative territory. BSE Sensex closed 456 points lower at 72,943. NSE Nifty ended with a decline of 125 points at 22,148.

On Wednesday, U.S. equities fell in choppy trading as investors weighed the Federal Reserve’s interest rate stance and sorted through a slew of dismal earnings announcements at the start of the fiscal reporting season. Dow Jones closed 46 points lower. Nasdaq Composite index is down by 182 points. S&P 500 closed 29 points lower.

Asian equities rose slightly in a mixed trading day on Thursday, backed by a stop in the dollar’s movement and bond market stability. Investors choose to take a step back and assess the prospects for interest rates.

Chinese Shanghai Composite was trading 0.55% higher. Japan’s Nikkei closed with a gain of 0.34%. Hong Kong’s Hang Seng index was trading with a jump of 1.33%. South Korean Kospi index was higher by 1.67%. Taiwan index was up by 0.41%.

On the nifty index, Eicher Motors, Hindustan Unilever, ONGC, Titan, and Divis Lab closed as the top gainers on Wednesday. Infosys, LTIMindtree, IndusInd Bank, Bajaj Finserv, and Wipro ended as the biggest laggards.

The rupee fell 17 paise, hitting 83.61 versus the US dollar for the second time in four weeks. This fall was impacted by the weak performance of equities markets and the strength of the dollar versus key currencies throughout the world, despite continued geopolitical concerns.

Oil prices gained in early trade on Thursday, partly offsetting the previous session’s losses, as the US announced that it will reintroduce oil sanctions against Venezuela, while the European Union discussed further restrictions on Iran.

For feedback and suggestions, write to us at [e-mail]