Markets may see a positive start today

13 Oct 2023 , 08:55 AM

Indian benchmark indices are headed for a positive beginning today as investors are digesting the US inflation data. Yesterday, markets closed in the red territory. Sensex closed 65 points lower at 66,408. Nifty 50 ended with a decline of 17 points at 19,794.

On the global front, US markets closed in a slow momentum as bond yields were on a rise following a US Treasury auction. Dow Jones closed 174 points lower. Nasdaq Composite ended 84 points lower. S&P 500 closed 47 points down.

Asian peers are also trading under pressure tracking the decline on Wall Street. Chinese Shanghai Composite is trading 0.59% lower. Hong Kong’s Hang Seng is trading 1.60% lower. Japan’s Nikkei 225 closed 0.27% lower. Taiwan index was trading flat. South Korean Kospi is down by 0.68%.

Nifty Midcap 50 stocks closed marginally higher. Nifty Bank index closed marginally up.

BPCL, Maruti Suzuki, Coal India, Power Grid, and Grasim Industries were the biggest gainers in the previous trading session. Infosys, Tech Mahindra, Apollo Hospital, TCS, and HCL Tech were the top losers on Thursday.

Oil prices increased on Friday after the United States tightened sanctions against Russian oil exports. The rupee stopped its two-day gains on Thursday, settling 6 paise lower at 83.24 against the US dollar, as rising crude oil prices dampened investor optimism.