Markets may open flat

7 Aug 2023 , 08:52 AM

Indian benchmark indices may start a flat day today, as signaled by market indicators. On Friday, markets closed with heavy gains. Sensex closed at 65,721. Nifty finished at 19,517.

Globally, US markets closed under pressure on Friday. Dow Jones ended 150 points lower. Nasdaq closed with a decline of 50 points. S&P 500 ended the session down by 24 points.

Asian peers were trading in a cautious mood in today’s early trade after a mixed US Jobs report. Chinese Shanghai Composite is trading 0.51% lower. Hong Kong’s Heng Seng is trading marginally higher. Japan’s Nikkei 225 closed in red on Friday. Taiwan index is trading 0.91% higher.

Nifty Midcap 50 stocks closed 0.79% higher. Nifty Bank ended with a gain of 0.82%.

Cipla, IndusInd Bank, Tech Mahindra, Wipro, and Bharti Airtel were the top gainers on Friday. SBI, Bajaj Auto, BPCL, Maruti Suzuki, and NTPC emerged as the biggest losers.

Oil prices rose to their highest levels since mid-April. The Indian rupee fell by 7 paise to settle at more than two month-low versus the US dollar.