Markets may open on a negative footing

9 Oct 2023 , 08:09 AM

Indian benchmark indices may start today’s session with negative numbers. On Friday, markets closed with attractive gains. Sensex closed 364 points higher at 65,996. Nifty 50 closed with a gain of 108 points at 19,653.

Globally, US markets closed with substantial gains. Dow Jones closed 288 points higher. Nasdaq composite index closed with an uptick of 211 points. S&P 500 closed 50 points up.

Asian equities closed in mixed numbers in their previous session. Chinese Shanghai Composite is trading 0.73% lower. Hong Kong’s Heng Seng is trading flat. Japan’s Nikkei 225 ended 0.26% lower. Taiwan index is trading 0.28% higher. South Korean Kospi is trading 0.21% higher.

Nifty Midcap 50 stocks closed 0.78% higher. Nifty Bank ended 0.33% higher.

Bajaj Finserv, Bajaj Finance, Titan, IndusInd Bank, and Tata Consumer emerged as the top gainers in the previous session. Top laggards were Hindustan Unilever, Coal India, ONGC, Asian Paints, and Bharti  Airtel.

On Friday, the rupee fell 2 paise to 83.27 against the US dollar as the Reserve Bank left the repo rate constant in its fourth straight monetary policy review. Oil prices increased by more than $3 a barrel in early Asian trade on Monday, as dramatic military clashes between Israeli and Hamas forces over the weekend heightened political uncertainty throughout the Middle East.