Markets may open on a weak note today

27 Mar 2024 , 08:38 AM

Indian benchmark indices may start today’s session with a downtrend. Yesterday, markets closed on the negative side. BSE Sensex closed 362 points lower at 72,470. NSE Nifty ended 92 points down at 22,005.

On the global front, U.S. equities fell on Tuesday, giving up gains late in the day to drop the Dow and S&P 500 to their third consecutive fall, as investors waited for economic data in a holiday-shortened week to evaluate the Federal Reserve’s policy course. Dow Jones closed 31 points lower. Nasdaq Composite index is down by 69 points. S&P 500 ended 15 points lower.

Stocks in Asia were mixed as US benchmarks erased gains in the final half hour of trade, with investors adjusting portfolios following a rise that has already surpassed $4 trillion this year. Chinese Shanghai Composite is trading 0.55% lower. Japan’s Nikkei 225 closed with a gain of 1.01%. Hong Kong’s Hang Seng index is down by 0.37%. South Korean Kospi index is trading 0.12% lower. Taiwan index is trading 0.23% higher.

On the nifty index yesterday, Bajaj Finance, Hindalco, Adani Ports, Britannia Industries, and NTPC ended as the biggest gainers. Bharti Airtel, Power Grid, Eicher Motors, Wipro, and Divis Lab ended as the top laggards.

The Indian rupee finished higher on Tuesday, buoyed by expected central bank intervention and an increase in Asian peers after falling to record lows last week.

Gold prices maintained ground on Wednesday, aided by lower US Treasury rates, as bullion traded in a limited range as investors remained on the sidelines seeking more clues on Federal Reserve policy. Spot gold remained stable at $2,178.31 per ounce as of 0125 GMT, after two sessions of advances. U.S. gold futures fell 0.1% to $2,173.70 an ounce.

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