Markets may open on a negative note

5 Dec 2023 , 09:03 AM

Indian benchmark indices may start today’s session in a lackluster mood. Yesterday, markets closed hitting new highs after BJP’s victory in three states. BSE Sensex closed 1384 points higher at 68,865. Nifty 50 closed with a gain of 419 points at 20,687.

On the global front, US markets ended their previous session with declines. Dow Jones closed 41 points lower. Nasdaq Composite closed with a decline of 120 points. S&P 500 ended the session with a decline of 25 points.

Asian equities fell to three-week lows on Tuesday as investors muted expectations for interest rate reduction in the United States and awaited U.S. employment data. Chinese Shanghai Composite is trading with a decline of 0.74%. Hong Kong’s Hang Sang is trading 1.81% lower. Japan’s Nikkei 225 ended with a decline of 1.35%. Taiwan index is down by 0.90%. South Korean Kospi index is trading lower by 0.42%.

Eicher Motors, Adani Enterprises, Adani Ports, BPCL, and ICICI Bank were the top gainers in the previous session. HDFC Life, Britannia, HCL Tech, Sun Pharma, and Wipro emerged as the biggest laggards.

NSE Midcap 50 stocks closed 1% higher in their previous session. Nifty Bank index ended with a gain of about 4%.

The rupee gave up its early gains and fell 5 paise to 83.38 versus the US dollar on Monday, as the greenback recovered in offshore markets and lenders bought dollars. Oil prices remained stable on Tuesday, despite uncertainty over OPEC+’s voluntary output cutbacks and persistent Middle East tensions.

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