Markets may see positive action today

30 Aug 2023 , 09:11 AM

Indian benchmark indices may be positive in today’s session. Yesterday, markets closed with modest gains. Sensex closed 79 points higher. Nifty closed 37 points lower.

Globally, US markets closed in positive territory as interest rate optimism persisted in the markets. Dow Jones closed 293 points higher. Nasdaq ended with a gain of 238 points. S&P 500 closed higher by 64 points.

Asian peers are trading on the upside tracking Wall Street gains as the US interest rate hike is likely to pause. Chinese Shanghai Composite closed 0.08% lower. Hong Kong’s Heng Seng is trading 0.49% higher. Japan’s Nikkei 225 is up by 0.94%. Taiwan index is trading with a gain of 0.49%. South Korean Kospi is trading 0.63% higher.

Nifty Midcap 50 stocks closed 0.33% higher. Nifty Bank ended flat.

Jio Financial Services, UPL, Hindalco, Tata Steel, and Hero MotoCorp emerged as the biggest gainers on Tuesday. Bharti Airtel, Hindustan Unilever, Reliance Industries, Dr Reddy’s, and Axis Bank were the top laggards yesterday.

Oil prices rose further on Wednesday as industry data showed a significant draw in oil stocks in the United States. Due to a rise in crude oil prices, the rupee fell 17 paise to 82.80 against the US dollar on Tuesday.