Markets may open on a positive front

7 Feb 2024 , 08:39 AM

Indian benchmark indices may start today’s session on a positive note. Yesterday, markets closed in a sweet spot with about 0.70% gains. BSE Sensex closed 455 points higher at 72,186. NSE Nifty ended 158 points higher at 21,929.

On the global front, US markets ended their previous session in high spirits. Dow Jones closed 141 points higher. Nasdaq Composite ended with a gain of 11 points. S&P closed with an uptick of 11 points.

Asian equities are trading in a higher momentum led by gains in the global markets. Chinese Shanghai Composite is trading 1.01% higher. Japan’s Nikkei 225 closed with a decline of 0.11%. Hong Kong’s Hang Seng index is trading 0.70% higher. South Korean Kospi index is trading 1.27% higher. Taiwan index is up by 0.20%.

On Tuesday, BPCL, HDFC Life, HCL Tech, TCS, and Maruti Suzuki emerged as the top gainers. While, Power Grid, Britannia Industries, IndusInd Bank, ITC, and Grasim were the biggest laggards.

Oil prices rose on Wednesday as growth in US oil output is forecast to stay relatively stable through 2025, alleviating concerns about surplus supply.

On Tuesday, the rupee fell 2 paise to settle at 83.05 versus the US dollar, despite the greenback’s strong performance against other currencies overseas.

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