Markets may see upside at opening bells

8 Feb 2024 , 08:44 AM

Indian benchmark indices may start today’s session with positive numbers on the chart. Yesterday, markets ended the session on a flat note. BSE Sensex closed 34 points lower at 72,152. NSE Nifty ended completely flat at 21,930.

On the global front, US markets concluded the session with modest gains. Dow Jones ended with a gain of 156 points. Nasdaq Composite index closed 148 points higher. S&P 500 closed with an uptick of 41 points.

Asian shares are trading in an upward trajectory, tracking the gains on Wall Street. Chinese Shanghai Composite is trading 0.84% higher. Japan’s Nikkei 225 closed 1.71% higher. Hong Kong’s Hang Seng index is trading with a decline of 1.41%. South Korean Kospi index is trading 0.52% higher. Taiwan index is higher by 0.20%.

SBI, Grasim Industries, HDFC Life, JSW Steel, and Axis Bank emerged as the biggest gainers yesterday. On the other hand, Tech Mahindra, Power Grid, Infosys, Adani Ports, and TCS closed on the flipside.

Oil prices increased on Thursday after Israel rejected Hamas’ cease-fire offer, as negotiations proceeded to settle the Gaza war and wider Middle East tensions that have kept the market on edge since October.

On Wednesday, the rupee rose 9 paise to settle at 82.96 versus the US dollar, mirroring a decline in the greenback’s value against key foreign currencies.

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