Markets may be in red

7 Jul 2023 , 08:58 AM

Indian stock markets may see a negative day today after six consecutive winning sessions. Yesterday. Markets closed with substantial gains.

Globally, US markets closed on the downside. Dow Jones closed 366 points lower. Nasdaq Composite ended with a decline of 113 points. S&P 500 wrapped up the session with 35 points decline.

Asian markets are trading with declines in today’s session as investors are cautious of US interest rate hikes and the risk of recession. Chinese Shanghai Composite was trading 0.31% lower. Hong Kong’s Heng Seng was 0.85% lower. Japan’s Nikkei 225 closed 0.47% lower. Taiwan index was trading with a downside of 0.58%. South Korean ‘Kospi’ was off by 1.50%.

In yesterday’s trading session, Mahindra & Mahindra, Apollo Hospital, Power Grid, Tata Motors, and Reliance were the shining stocks. While on the downside were Eicher Motors, HDFC Life, Maruti Suzuki, HCL Tech, and Bajaj Finance.

Nifty Bank closed 0.42% higher. Nifty Midcap 50 stocks ended about 1% higher.

In Friday’s morning session, Oil prices remain unchanged but may post some weekly gains. Indian rupee plunged 35 paise to close at 82.60 versus the greenback.