Market may trade flat today

21 Jun 2023 , 09:15 AM

Indian stock markets may see a flat day today as investors eye US Fed Reserve Chairman’s testimony due later in the day. Yesterday, markets closed on a positive note after a sluggish start.

Globally US Equities closed under pressure. Dow Jones closed 245 points lower. Nasdaq closed lower by 22 points. S&P 500 ended 21 points lower.

Asian peers are tracking the global market movement. Chinese Shanghai Composite closed 0.42% lower. Hong Kong’s Hang Seng ended 1.91% lower. Japan’s Nikkei 225 was marginally higher. Taiwan index is trading with a decline of 0.27%. South Korean Kospi index is down by 0.59%.

Tata Motors, HCL Tech, Power Grid, HDFC Life, and Eicher Motors were the biggest gainers in yesterday’s trade. Bajaj Finance, Bajaj Finserv, Sun Pharma, Mahindra & Mahindra, and BPCL were the top losers.

Nifty Bank closed 0.30% higher. Nifty Midcap 50 stocks closed 0.67% higher.

Oil prices declined owing to China’s growth concerns.