Markets may be in red today

8 Aug 2023 , 09:07 AM

Indian stock markets may see a day with declines today after rising for the last two sessions. Yesterday, markets closed on a positive note. Nifty 50 closed at 19,597. Sensex closed at 65,953.

Globally, US markets closed in cheering spirits ahead of the US inflation report. Dow Jones closed with a gain of 407 points. Nasdaq ended with a gain of 85 points. S&P 500 finished with an uptick of 40 points.

Asian peers were trading in weak sentiment as investors look forward to Chinese inflation data. Chinese Shanghai Composite was trading marginally higher. Hong Kong’s Heng Seng was trading with a decline of 0.94%. Japan’s Nikkei 225 closed with a gain of 0.32%. Taiwan index is trading 0.82% higher. South Korean Kospi was marginally lower.

Nifty Midcap 50 stocks closed 0.43% higher on Monday. Nifty Bank was under pressure.

Divis Lab, Mahindra & Mahindra, SBI Life, Sun Pharma, and LTIMindtree emerged as the biggest gainers on Monday. Britannia Industries, Bajaj Auto, SBI, Tata Motors, and Axis Bank closed on the flipside.

Oil prices edged up on Tuesday as markets were supported by supply concerns emanating from production cuts by Russia and Saudi Arabia. The Indian rupee closed 6 paise higher to close at 82.75 versus the greenback.