Markets may ring in on a muted note

11 Sep 2023 , 08:16 AM

Indian benchmark indices may start the day with muted numbers ahead of US inflation data. On Friday, markets closed with substantial gains. Sensex closed with a gain of 333 points at 66,598.91. Nifty 50 ended 92.90 points higher at 19,819.95.

Asian markets were on the flipside in Monday’s morning session as investors anticipate Fed Reserve’s next likely moves on interest rates. Chinese Shanghai Composite was trading 0.50% higher. Hong Kong’s Heng Seng is trading with a decline of 1.50%. Japan’s Nikkei 225 closed 0.31% lower. Taiwan index is down by 0.60%. South Korean Kospi index is trading with a gain of 0.18%.

Nifty Midcap 50 stocks closed 1.10% higher. Nifty Bank closed with a gain of 0.62%.

NTPC, Coal India, BPCL, Tata Motors, and Larsen & Toubro emerged as the top gainer in Friday’s session. UPL, Eicher Motors, Apollo Hospital, Ultratech Cement, and SBI Life closed as the biggest laggards.

On Friday, the rupee ended a four-day losing streak by closing 21 paise higher at 83.02 against the US dollar. Oil prices fell in early Asian trade on Monday as China’s economic concerns weighed on the forecast for fuel demand.