Markets may go either way today

8 Jun 2023 , 09:05 AM

Indian equity markets may witness a mixed day today. Yesterday, markets closed on a higher note as investors look up to RBI and US Fed’s monetary policy data. Nifty 50 ended 127 points higher. Sensex closed up by 350 points.

Globally, US markets held a mixed sentiment in their yesterday’s session. Dow Jones closed 92 points higher. Nasdaq closed 172 points lower. S&P 500 ended 0.38% lower.

Asian equities are in the red territory today after Canada’s surprise rate hike raised concerns over US Fed’s hawkishness. Japan’s Nikkei 225 closed 0.13% lower. Chinese Shanghai Composite is trading 0.30% lower. Hong Kong’s Hang Seng is down by 0.37%. Taiwan index is trading lower by 0.60%. South Korean ‘Kospi’ is marginally lower.

Yesterday, Nifty surpassed 18,700 levels for the first time in 2023. Nifty Bank closed 110 points higher. Britannia Industries, Tata Consumers, BPCL, Nestle India, and HDFC Life were yesterday’s top gainers on nifty. Kotak Bank, Cipla, Maruti Suzuki, Bajaj Finance, and Adani Ports topped the laggards’ chart.

Oil prices remained relatively unchanged during early trading in Asia on Thursday as investors assessed the impact of a potential global economic slowdown on demand, while also considering the anticipated decrease in supply due to Saudi Arabia’s output cuts.