Markets may open in a negative mood after yesterday’s fiasco

21 Dec 2023 , 09:02 AM

Indian benchmark indices are set to open in a lackluster mood after tanking over 900 points in the previous session. Yesterday, BSE Sensex closed 931 points lower at 70,506. NSE Nifty ended with a decline of 303 points at 21,150.

On the global front, US markets also closed with sharp losses as abrupt sell-off ends the rally. Dow Jones closed 476 points lower. Nasdaq Composite index ended 225 points lower. S&P 500 was down by 70 points at the closing.

Asian peers are trading in a downward trend, with most of the indices in a negative tone. Japan’s Nikkei 225 closed 1.50% lower. Hong Kong’s Hang Seng was trading 0.33% lower. Chinese Shanghai Composite is trading with a gain of 0.19%. South Korean Kospi index is trading with a decline of 0.64%. Taiwan index is down by 0.63%.

NSE Nifty Midcap index closed 3.22% lower. Nifty Bank index ended with a decline of 0.89%.

The rupee closed steady against the US dollar on Wednesday, despite huge selling in equities markets, as investor confidence was dampened by fears over oil supply via the Red Sea route. Oil prices dropped on Thursday as concerns about low demand following an unexpected boost in US oil inventories trumped worries about global trade disruptions and Middle East geopolitical tensions.

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