Markets may open with flat numbers

12 Apr 2024 , 08:23 AM

Domestic equity indices may ring opening bells on a flat note today. Yesterday, markets closed with substantial gains. BSE Sensex ended with a gain of 354 points at 75,038. NSE Nifty index closed 111 points higher at 22,754.

Globally, US markets finished higher on Thursday, with tech-related momentum companies leading the way, as new economic data raised confidence that inflation will remain low. Dow Jones closed 2 points lower. Nasdaq Composite index ended 272 points higher. S&P 500 index closed higher by 38 points.

Asian stocks are trading flat following the trails in US markets. Chinese Shanghai Composite is trading with a decline of 0.07%. Japan’s Nikkei 225 closed 0.48% higher. Hong Kong’s Hang Seng index is trading with a decline of 1.52%. South Korean Kospi index is trading flat. Taiwan index is trading 0.06% higher.

On the nifty index, Coal India, BPCL, ITC, Kotak Bank, and Hindalco ended as the top gainers. HDFC Life, Cipla, Maruti Suzuki, Divis Lab, and Shriram Finance closed as the biggest laggards.

On Wednesday, the rupee finished steady at 83.31 versus the US dollar, with support from a rebound in local stocks offset by rising oil prices in the international market and solid US bond rates.

Oil prices climbed in the early trading session on Friday due to rising Middle Eastern tensions, with Iran promising to react to a suspected Israeli air assault on its embassy in Syria, potentially disrupting supplies from the oil-producing area.

Gold prices rose to a new high on Friday as geopolitical worries fueled demand for the safe-haven commodity, despite positive economic data failing to reduce bullion’s appeal.

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