Markets may open on a negative note

19 Dec 2023 , 08:58 AM

Indian benchmark indices may start today’s intraday session on a sluggish note. Yesterday, markets concluded the session with declines. BSE Sensex closed 169 points lower at 71,315. Nifty 50 ended at 21,418, down by 38 points.

On the global front, US markets ended in a flat trajectory. Dow Jones closed in a flat zone. Nasdaq Composite ended 91 points higher. S&P 500 closed 21 points higher.

Asian peers are trading in mixed sentiments as traders are focused on Japan’s central bank. Chinese Shanghai Composite is trading flat. Hong Kong’s Hang Seng is down by 0.75%. Japan’s Nikkei 225 closed marginally higher. Taiwan index was trading 0.64% lower.

Nifty Midcap 50 and bank stocks closed marginally higher.

Bajaj Auto, Hindalco, Sun Pharma, Adani Ports, and Reliance were the top gainers in their previous session. Power Grid, ITC, Tech Mahindra, ICICI Bank, and JSW Steel emerged as the top laggards.

Due to a surge in oil prices and a dismal trend in local equities markets, the rupee relinquished its early gains to trade 7 paise down at 83.10 versus the US dollar on Monday. Oil prices rose on Tuesday, extending gains from the previous session, as assaults on ships in the Red Sea by Yemen’s Iran-aligned Houthi militants interrupted maritime traffic and forced corporations to reroute boats. 

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