Markets may see a positive action today

25 Sep 2023 , 08:02 AM

Indian benchmark indices may open with positive numbers today. On Friday, markets closed under pressure as Fed’s hawkishness raised concerns for investors. Sensex closed 221 points lower at 66,009.15. Nifty 50 ended with a decline of 68 points at 19,674.25.

On the global front, US markets ended their previous session with declines. Dow Jones closed 107 points lower. Nasdaq Composite ended with a downside of 12 points. S&P 500 closed marginally lower.

Asian equities are trading in mixed sentiment as investors await a fresh week after Fed’s hawkishness on interest rates. Chinese Shanghai Composite is trading 0.38% lower. Hong Kong’s Heng Seng is trading 1.20% lower. Japan’s Nikkei 225 is trading with an uptick of about 0.62%. Taiwan index is trading 0.53% higher. South Korean Kospi index is trading down by 0.65%.

Nifty Midcap 50 and Bank stocks closed on a flat note.

IndusInd Bank, Maruti Suzuki, SBI, Mahindra & Mahindra, and Asian Paints were the top gainers on Friday. Wipro, Dr Reddy’s, UPL, Cipla, and Bajaj Auto were the biggest laggards.

On Friday, the rupee rose 19 paise to 82.94 against the US dollar, as the inclusion of India in the JP Morgan bond index improved investor confidence. Oil prices increased on Monday, with investors focusing on a tighter supply outlook following Moscow’s temporary suspension on gasoline exports.