Markets may start in a negative sentiment today

14 Mar 2024 , 08:58 AM

Indian benchmark indices may start today’s session with lackluster numbers. Yesterday, markets closed with substantial declines. BSE Sensex closed 906 points lower at 72,761. NSE Nifty ended with a decline of 338 points at 21,998.

On the global front, The S&P 500 and Nasdaq fell on Wednesday as investors grabbed gains in chipmaker companies and waited for producer pricing data and further hints about the inflation trajectory ahead of next week’s Federal Reserve meeting. Dow Jones closed with a marginal gain of 38 points. Nasdaq Composite closed 88 points lower. S&P 500 ended 10 points lower.

Asian equities are trading in mixed sentiments, tracking global markets. Chinese Shanghai Composite is trading with a gain of 0.25%. Japan’s Nikkei 225 closed 0.18% lower. Hong Kong’s Hang Seng index is trading 0.22% lower. South Korean Kospi index is trading 0.66% higher. Taiwan index is marginally down by 0.07%.

On the nifty index, ITC, ICICI Bank, Kotak Bank, Bajaj Finance, and Cipla ended as the biggest gainers. On the other hand, Power Grid, Coal India, Adani Enterprises, NTPC, and Adani Ports closed as the top laggards.

The rupee fell 1 paisa to 82.81 versus the US dollar on Wednesday, after a widespread selloff in domestic markets and foreign capital outflows.

Oil prices rose in Asian trading on Thursday as an unexpected reduction in US oil stocks suggested stronger demand, while potential supply interruptions from Ukrainian strikes on Russian facilities also supported prices.

Gold prices were unchanged in early Asian trade hours on Thursday, trading near record-high levels against a weaker dollar, as traders anticipated further economic data that may sway prospects for a mid-year rate decrease by the US Federal Reserve.

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