Markets may open session on downside

17 Jan 2024 , 09:09 AM

Indian benchmark indices may ring in opening bells of today’s session in a sluggish tone. Yesterday, markets closed in red. BSE Sensex ended 199 points lower at 73,129. NSE Nifty 50 closed with a decline of 65 points at 22,032.

On the global front, US markets ended the session under pressure. The markets were closed for trading, 3 days in a row. Dow Jones ended 232 points lower. Nasdaq Composite closed 28 points lower. S&P 500 ended down by 18 points.

Asian peers are trading in mixed sentiments on Wednesday as central bankers’ hawkish tone undermined expectations of early interest rate decreases. Chinese Shanghai Composite is trading 0.72% lower. Japan’s Nikkei 225 closed 0.54% higher. Hong Kong’s Hang Seng index is trading 2.89% lower. South Korean Kospi index is down by 2.08%. Taiwan index is trading with a decline of 0.65%.

On the nifty index, top gainers were BPCL, Tata Steel, Titan, ITC, and Maruti Suzuki. On the other hand, Divis Lab, HCL Tech, NTPC, Wipro, and Infosys emerged as the biggest losers.

Oil prices dipped on Wednesday as the US currency strengthened, limiting demand for greenback-denominated petroleum, while increased threats of supply interruptions due to the escalating violence in the Red Sea offset the losses.

On Tuesday, the rupee fell 26 paise to 83.12 against the US dollar, as the greenback’s strength against key international competitors and a weak equities market dampened investor optimism.

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