Markets may open on a dim note

19 Mar 2024 , 09:11 AM

Indian benchmark indices may start today’s session on a sluggish note. Yesterday, markets closed with modest gains after falling terribly over the last week. BSE Sensex ended 105 points higher at 72,748, NSE Nifty closed 32 points up at 22,055.

On the global front, Wall Street’s main indexes finished higher on Monday, with megacap growth firms like Alphabet and Tesla driving a rally in the technology-heavy Nasdaq, while investors awaited the US Federal Reserve’s meeting this week. Dow Jones closed 76 points higher. Nasdaq Composite index ended with a gain of 130 points. S&P 500 closed 32 points higher.

On the Asian front, Japanese stocks dipped on Tuesday, along with regional markets, as the yen remained stable ahead of a key Bank of Japan meeting that may end eight years of zero interest rates and bring in the country’s first policy tightening since 2007.

Chinese Shanghai Composite was trading 0.23% lower. Japan’s Nikkei 225 closed 0.36% down. Hong Kong’s Hang Seng index is down by 0.77%. South Korean Kospi index is trading with a decline of 1.30%. Taiwan index is up by 0.15%.

On the nifty index, Tata Steel, Mahindra and Mahindra, JSW Steel, Tata Motors, and Apollo Hospital ended as the top gainers. UPL, Infosys, Tata Consumer, TCS, and Titan were the top laggards.

The rupee fell 4 paise to 82.90 versus the US dollar on Monday, as the strong US dollar and concerns about rising global crude oil prices weighed on the local currency.

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