Markets may open in a cheery sentiment

4 Apr 2024 , 09:13 AM

Indian benchmark indices may start today’s session with positive numbers. Yesterday, markets closed on a flat note. BSE Sensex ended 27 points lower at 73,876. NSE Nifty 50 closed 19 points down at 22,434.

On the global front, the S&P 500 and Nasdaq finished higher on Wednesday as data showed that U.S. services industry growth slowed further in March, but the rise was capped when Federal Reserve Chair Jerome Powell signalled that a rate drop was still not in the cards. Dow Jones closed 43 points lower. Nasdaq Composite ended 37 points higher. S&P 500 closed 6 points up.

Asian equities soared on Thursday as U.S. rate cuts remained on the table, even if their timing was uncertain, while the yen fell against all currencies save the dollar, boosting Japanese stocks.

On the nifty index, Shriram Finance, NTPC, Divis Lab, TCS, and Tech Mahindra were the top gainers. On the other hand, Nestle India, Bajaj Auto, Dr Reddy’s, Kotak Bank, and Britannia Industries ended as the top laggards.

Oil prices jumped in early Asian trade on Thursday, citing fears about decreased supply as major producers maintain output cutbacks and signs of better economic growth in the United States, the world’s largest oil user.

The rupee fell 11 paise to settle at 83.53 versus the US dollar on Wednesday, as continued foreign capital outflows and risk-averse market sentiment weighed on the local currency.

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