Markets may open on a positive note today

29 Apr 2024 , 08:35 AM

Indian markets may start today’s session on a positive note. On Friday, indices closed in a bloodbath. BSE Sensex ended 609 points lower at 73,730. NSE Nifty 50 ended down by 150 points at 22,420.

On the global front, the U.S. stock market closed on a high note Friday, boosted by a jump in mega-cap technology stocks. This spike followed solid quarterly results from IT behemoths Alphabet and Microsoft, as well as modest inflation rates. Dow Jones closed 154 points higher. Nasdaq Composite index ended with a gain of 316 points. S&P 500 index closed with a jump of 52 points.

Asian stocks opened higher on Monday, as investors prepared for the Federal Reserve’s scheduled policy meeting later this week. Concurrently, the dollar surpassed the psychologically crucial level of 160 yen for the first time in decades.

Chinese Shanghai Composite index was trading 0.87% higher. Japan’s Nikkei 225 closed 0.81% higher. Hong Kong’s Hang Seng index is trading with a gain of 1.68%. South Korean Kospi index is trading 0.81% higher. Taiwan index is trading 1.61% higher.

On the nifty index, Tech Mahindra, Divis Lab, LTIMindtree, Bajaj Auto, and BPCL closed as the biggest gainers on Friday. Bajaj Finance, Bajaj Finserv, IndusInd Bank, Nestle India, and SBI Life ended as the top loser.

In early Asian trading on Monday, oil prices fell, reversing Friday’s gains. This shift occurred as peace talks between Israel and Hamas in Cairo helped to calm concerns for a larger Middle East conflict. Furthermore, the announcement of US inflation figures lowered expectations for interest rate decreases in the near future.

On Friday, the rupee fell 10 paise to settle at 83.38 against the US dollar, as the US currency strengthened overseas and domestic shares fell.

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