Markets may rally in today’s session

27 Jul 2023 , 09:07 AM

Indian benchmark indices may see a positive day today as US Fed fails to surprise investors with its monetary policy data. Yesterday, markets closed the intraday session in green. Nifty closed at 19,778. Sensex ended at 66,707.

Globally, US markets were trading with modest gains after a rate hike by the Federal Reserve. Dow Jones closed 82 points higher. Nasdaq Composite was down by 17 points. S&P 500 closed marginally lower.

Asian peers were trading with gains in today’s session as an interest rate hike by Federal Reserve leaves room for further rate hikes. Chinese Shanghai Composite was trading 0.40% higher. Hong Kong’s Heng Seng was trading 1.41% higher. Japan’s Nikkei 225 closed 0.19% higher. Taiwan index was trading 0.64% higher.

Nifty Midcap 50 stocks closed 0.56% higher. Bank Nifty was higher by 0.47% in the last session.

In yesterday’s session, the top gainers were Larsen & Toubro, Cipla, ITC, Britannia, and Sun Pharma. Top laggards on nifty were Bajaj Finance, Bajaj Finserv, Mahindra & Mahindra, Apollo Hospital, and Tech Mahindra.

Oil prices edged up in today’s early morning session as investors remain centric on tighter supply expectations from top oil producers. Indian rupee fell about 13 paise versus the greenback in today’s trade to close at 82.01.