Markets may see a negative start to the day

25 Oct 2023 , 09:02 AM

Indian benchmark indices may open in a negative territory. On Monday, markets settled with losses. Sensex ended with a decline of 825 points at 64,572. Nifty closed 19,282 points lower at 261 points.

Globally, US markets closed with gains as strong earnings increased the investor appetite and caused a broad rally. Dow Jones closed 205 points higher. Nasdaq Composite ended with a gain of 122 points. S&P 500 closed 31 points higher.

Asian markets are trading on the upside, led by the gains on Wall Street. Chinese Shanghai Composite is trading 0.80% higher. Hong Kong’s Hang Seng is trading with a gain of 2.58%. Japan’s Nikkei 225 closed 1.30% higher. Taiwan index is up by 0.79%.

Nifty Midcap 50 stocks closed 1.82% lower. Nifty Bank was down by 1.31%. 

Mahindra & Mahindra and Bajaj Finance were the only two stocks that ended in green on the nifty index. On the losers chart, LTIMindtree, Adani Enterprises, Hindalco, JSW Steel, and Adani Ports were on the top.

Oil prices were practically steady on Wednesday as signals of tighter supply in the United States offset positive economic data.

The rupee fell 4 paise to 83.16 versus the US dollar on Monday, owing to strong losses in domestic markets and a rise in US bond rates to 5%.