Markets may open in a lackluster mood

15 Apr 2024 , 08:55 AM

Indian benchmark indices may start today’s session with sluggish numbers. On Friday, markets closed in a negative spot. BSE Sensex ended 793 points lower at 74,244.90. NSE Nifty closed at 22,519, down by 234 points.

On the global front, U.S. equities fell on Friday after a mixed start to the earnings season. Worries over possibly growing hostilities in the Middle East roiled financial markets, prompting investors to seek safer havens for their money. Dow Jones closed 476 points lower. Nasdaq Composite index closed with a decline of 267 points at 16,175.

Asian markets fell and gold prices jumped on Monday as risk sentiment weakened following Iran’s retaliatory strike on Israel, which fueled worries of a larger regional confrontation and put traders on edge. Chinese Shanghai Composite index is trading 1.54% higher. Japan’s Nikkei 225 closed 1.04% lower. Hong Kong’s Hang Seng index is trading down by 0.57%. South Korean Kospi is down by 1.06%. Taiwan index is trading 1.1% lower.

On the nifty index, Divis Lab, Bajaj Auto, Tata Motors, TCS, and Nestle India were the top gainers on Friday. Sun Pharma, Maruti Suzuki, Power Grid, Titan, and ONGC ended as the top laggards.

Oil prices dipped at Asia’s opening on Monday, as market players reduced risk premiums following Iran’s strike on Israel late Saturday, which the Israeli authorities claimed caused minor damage.

The rupee fell 7 paise to settle at 83.38 vs the US dollar on Friday, driven down by a big sell-off in local markets and a strong greenback against key foreign currencies.

Gold prices moved higher on Monday, remaining just below the previous session’s record high, as rising Middle Eastern tensions boosted bullion’s safe-haven appeal.

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