Markets may see gains today

16 Jun 2023 , 09:07 AM

Indian stock markets may have a positive day today as current market situation indicates some gains through the day. Yesterday, markets ended lower.

Globally, US markets finished higher. Dow Jones was higher by 428 points. Nasdaq ended 156 points higher. S&P 500 closed 53 points higher, being the highest in 14 months.

On Friday, Asian stocks reached their highest level in almost four months following positive economic data from the United States. This data increased expectations that the Federal Reserve is close to completing its series of interest rate hikes. Investors are now shifting their attention to the upcoming policy meeting of the Bank of Japan. However, overall markets are now trading in mixed cues.

Chinese Shanghai Composite is trading 0.39% higher. Hong Kong’s Hang Seng is up by 0.64%. On the contrary, Japan’s Nikkei 225 closed 0.54% lower. Taiwan index is trading with a decline of 0.35%. South Korean ‘Kospi’ is up by 0.32%.

Nifty Midcap 50 closed 0.17% lower. Nifty Bank dragged down the chart with a decline of 1.24% in yesterday’s trade. 

Apollo Hospitals, Divis Lab, Dr Reddy’s, Cipla, and BPCL were the top gainers. Hero MotoCorp, Wipro, IndusInd Bank, SBI, and Kotak Bank emerged as the biggest laggards.

Oil prices slip after previous session’s surge.