Markets may open in a green territory

29 Feb 2024 , 09:07 AM

Indian benchmark indices may start today’s session on a positive note. Yesterday, markets closed in a bloodbath amidst dim market sentiment. BSE Sensex closed 790 points lower at 72,304. NSE Nifty ended with a decline of 247 points at 21,951.

On the global front, U.S. equities finished slightly down on Wednesday, a day before a critical inflation report that could greatly affect predictions for when the Federal Reserve would decrease interest rates. Dow Jones closed 23 points lower. Nasdaq Composite index ended with a decline of 87 points. S&P 500 closed 8 points lower.

Asian equities are trading in mixed sentiments today. Chinese Shanghai Composite is trading 1.17% higher. Japan’s Nikkei 225 closed with a decline of 0.65%. Hong Kong’s Hang Seng index is trading 0.27% higher. South Korean Kospi index is trading 0.30% lower. Taiwan index is up by 0.11%.

On the nifty index yesterday, Hindustan Unilever, Bharti Airtel, Infosys, and TCS were the only gainers on the charts. Power Grid, Bajaj Auto, Apollo Hospital, Eicher Motors, and IndusInd Bank ended as the biggest losers.

The rupee slipped by 2 paise to 82.91 against the greenback on Wednesday, owing to foreign money outflows and heightened month-end demand for the American currency.

Oil prices fell early Thursday as a larger-than-expected build in US oil stocks fueled concerns about weak demand, while signals that US interest rates may remain high for longer added to pressure.

Gold prices remained stable on Thursday as traders anticipated the Federal Reserve’s preferred inflation measure, which is coming later in the day and might give a new perspective on when the US central bank may begin decreasing interest rates.

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