Markets may see a muted start

20 Sep 2023 , 08:40 AM

Indian benchmark indices may start on a flat note today, following their global peers. On Monday, markets closed on a sluggish note with Sensex closing 242 points lower at 67,597. Nifty 50 ended with a decline of 59 points at 20,133.

On the global front, US markets closed with declines on Tuesday. Dow Jones ended 107 points lower. Nasdaq closed 32 points lower. S&P 500 ended with a decline of 10 points.

Asian peers closed on a subdued note as investors are cautious about hawkish Fed Reserve policy. Chinese Shanghai Composite is trading 0.31% lower. Hong Kong’s Heng Seng is trading down by 0.39%. Japan’s Nikkei 225 closed 0.36% lower. Taiwan index is down by 0.32%. South Korean Kospi index is trading with a marginal downside.

Nifty Midcap 50 stocks closed 0.35% lower. Nifty Bank ended with a decline of 0.54%.

Power Grid, Titan, HDFC Life, Mahindra & Mahindra, and BPCL emerged as the top gainers on Monday. Hindalco, HDFC Bank, Adani Ports, Dr Reddy’s Laboratories, and Bharti Airtel closed on the flipside in their last session.

On Monday, the rupee fell for the fourth consecutive day, declining 16 paise to a lifetime low of 83.32 against the US dollar. Oil prices increased early on Wednesday, keeping near 10-month highs set the day before.