Markets may see upside at opening bells

19 Jan 2024 , 09:12 AM

Indian benchmark indices may start Friday’s session with gains. Yesterday, markets closed in a sluggish momentum. BSE Sensex ended 314 points lower at 71,186. NSE Nifty closed 110 points lower at 21,462.

On the global front, US markets ended their previous session in the green territory. Dow Jones index closed 202 points higher. Nasdaq Composite index ended with a gain of 200 points. S&P 500 closed 42 points higher.

Asian markets are trading in a mixed momentum led by a rally in regional chipmakers. Chinese Shanghai Composite was trading 0.45% lower. Japan’s Nikkei 225 closed 1.58% higher. Hong Kong’s Hang Seng index is trading 0.14% lower. South Korean Kospi index is trading with a gain of 1%. Taiwan index is trading 2.07% higher.

Among the top gainers on the nifty index were Sun Pharma, Tech Mahindra, Cipla, Tata Motors, and Mahindra & Mahindra. LTIMindtree, NTPC, HDFC Bank, Titan, and Power Grid emerged as the biggest laggards on Thursday.

Oil prices fell on Friday after rallying the day before, as geopolitical tensions and interruptions in U.S. oil output due to a cold snap were offset by concerns about poor demand growth in China.

On Thursday, the rupee rose 1 paisa to close at 83.13 vs the US dollar, reflecting the US currency’s weakness against main competitors worldwide.

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