Markets may open on a negative note

28 Mar 2024 , 08:31 AM

Indian benchmark indices may open Thursday’s trading session in a not so cheery mood. Yesterday, markets closed with substantial gains. BSE Sensex ended 526 points higher at 72,996. NSE Nifty ended the session at 22,124, higher by 119 points.

On the global front, US equities rose on Wednesday, with the Dow leading gains and the S&P 500 establishing a closing record, fueled by pharmaceutical Merck, as investors awaited the next piece of inflation data and Federal Reserve comments for clues about the rate path. Dow Jones closed 478 points higher. Nasdaq Composite index ended 84 points higher. S&P 500 closed with a gain of 45 points.

Before Friday’s highly anticipated release of the U.S. core personal consumption expenditures (PCE) price index data, which is favored by the Federal Reserve as a gauge of inflation, Asian markets remained largely stagnant within a defined range.

Chinese Shanghai Composite is trading 0.40% higher. Japan’s Nikkei 225 closed with a gain of 1.18%. Hong Kong’s Hang Seng index is trading with a gain of 0.59%. South Korean Kospi index is down by 0.23%. Taiwan index is trading 0.16% lower.

On the nifty index, Reliance Industries, Maruti Suzuki, Bajaj Auto, Bajaj Finance, and Titan were the biggest gainers. UPL, Hero MotoCorp, Wipro, Apollo Hospital, and Dr Reddy’s secured top positions as losers.

Global oil prices moved up on Thursday, recovering from two consecutive sessions of fall, as investors reviewed the most recent crude oil and petrol stocks data in the United States and resumed purchasing.

For feedback and suggestions, write to us at [e-mail] of Form