Indian benchmark indices may see a flat start today

6 Mar 2024 , 08:55 AM

Domestic equity indices may start today’s session with muted numbers. Yesterday, markets closed in negative territory. BSE Sensex closed 195 points lower at 73,677. NSE Nifty ended down by 49 points at 22,356.

On the global front, in US markets the three main indexes experienced declines exceeding 1%, primarily driven by the downturn in megacap growth firms like Apple Inc and the semiconductor sector, placing significant pressure on the Nasdaq. This trend occurred in anticipation of the upcoming release of economic data and statements from Federal Reserve Chair Jerome Powell later this week.

Dow Jones ended with a decline of 404 points. Nasdaq Composite index closed 268 points lower. S&P 500 closed 52 points down.

Asian markets fell on Wednesday in cautious trading, with Chinese stocks falling as a lack of significant stimulus measures from Beijing disappointed some investors, while gold and bitcoin fell after reaching new highs.

Chinese Shanghai Composite is trading 0.33% lower. Japan’s Nikkei 225 closed with a decline of 0.25%. Hong Kong’s Hang Seng index is trading with a gain of 1.08%. South Korean Kospi index is down by 0.53%. Taiwan index is trading 0.24% higher.

On the nifty index, Tata Motors, Bharti Airtel, Bajaj Auto, SBI, and ONGC ended as the top gainers. Bajaj Finserv, Bajaj Finance, Nestle India, Infosys, and TCS ended as the top laggards.

Oil prices dipped slightly on Wednesday as fears over demand growth in China, the world’s largest oil importer, collided with signs of supply tightening due to major producers’ output curbs.

On Tuesday, the rupee remained constant at 82.90 versus the US dollar, owing to a strong greenback against key international competitors and a downward trend in equities markets.

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