Markets may open on a flat note

12 Dec 2023 , 09:18 AM

Indian benchmark indices may start today’s session with flat numbers. Yesterday, markets closed with modest gains. BSE Sensex closed 103 points higher at 69,928. NSE Nifty ended with a gain of 21 points at 21,018.

On the global front, US markets closed higher ahead of US inflation data. Dow Jones closed 157 points higher. Nasdaq Composite index closed with a gain of 28 points. S&P 500 was 18 points higher at the closing.

Asian markets are trading with gains, tracking the global cues. Chinese Shanghai Composite is trading marginally higher. Hong Kong’s Hang Seng is trading higher by 0.81%. Japan’s Nikkei 225 closed with a gain of 0.58%. Taiwan index is higher by 0.31%. South Korean Kospi index is trading marginally higher.

Ultratech Cement, UPL, Adani Enterprises, Nestle India, and Power Grid emerged as the top gainers on the nifty index. Dr Reddy’s Laboratories, Axis Bank, Cipla, Eicher Motors, and Mahindra & Mahindra closed on the flipside yesterday.

The rupee rose 3 paise to 83.37 against the US dollar on Monday, as investors remained cautious ahead of the US Federal Reserve decision on interest rates.

Oil prices remained stable on Tuesday, ahead of crucial interest rate policy and inflation data releases, and despite concerns that OPEC+ output curbs next year may be insufficient to balance oil oversupply and slower fuel demand growth.

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