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Markets may be cautious today at opening bells

22 Mar 2024 , 08:33 AM

Indian benchmark indices may open today’s session with flat numbers. Yesterday, markets closed in a positive sentiment after a volatile trading session. BSE Sensex closed 540 points higher at 72,641. NSE Nifty ended with a gain of 173 points at 22,011.

On the global front, Wall Street’s three major stock indices ended at record highs for second consecutive day on Thursday, as the Federal Reserve reassured investors about the possibility of rate cuts this year, while semiconductor stocks rose following Micron Technology’s positive prediction.

Dow Jones closed 269 points higher. Nasdaq Composite index ended with a jump of 32 points. S&P 500 closed 17 points higher.

On Friday, Asian equities were nearing a weekly gain, and the Nikkei surged to a new high, riding a rally from its worldwide counterparts after the Swiss National Bank lowered interest rates unexpectedly, leaving investors guessing who may follow.

However, the stocks didn’t shine much at the later hour. Chinese Shanghai Composite is trading 1.27% lower. Japan’s Nikkei 225 closed 0.07% higher. Hong Kong’s Hang Seng index is down by 2.19%. South Korean Kospi index is trading 0.24% lower. Taiwan index is down by 0.23%.

On the nifty index, NTPC, BPCL, Power Grid, Tata Steel, and Coal India closed highest on the gainers’ chart. Bharti Airtel, HDFC Life, Maruti Suzuki, ICICI Bank, and ONGC were the top laggards.

Oil prices fell in early Asian trade Friday on the prospect of a Gaza ceasefire, which might reduce global supply, while a stronger US currency and falling petrol costs reduced demand mood.

The rupee rose 6 paise to settle at 83.13 vs the US dollar on Thursday, aided by a strong trend in local stocks and a weak greenback amid increased desire for riskier assets.

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Related Tags

  • BSE
  • nifty
  • NSE
  • Pre Market Commentary
  • sensex
  • stock market news
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