Markets may start in positive cues

28 Aug 2023 , 08:28 AM

Indian benchmark indices may start today’s session with positive numbers. On Friday, markets closed with declines. Nifty 50 closed at 19,266. Sensex ended at 64,886.

Globally, US markets closed on an upside with substantial gains as investors took in Powell’s Speech. Dow Jones ended with a gain of 247 points. Nasdaq closed 127 points higher on Friday. S&P 500 closed 30 points higher.

Asian peers are trading with gains, tracking Wall Street upside. Chinese Shanghai Composite is trading 2.45% higher. Hong Kong’s Heng Seng is trading with a gain of 2.08%. Japan’s Nikkei 225 closed 1.66% higher in the last session. Taiwan index is trading 0.33% higher. South Korean Kospi index is trading 0.83% higher.

Nifty Midcap 50 stocks closed 0.98% lower. Nifty Bank stocks finished 0.59% higher.

Jio Financial Services, Bajaj Finserv, Asian Paints, Bajaj Finance, and ONGC were the top gainers in Friday’s trade. Larsen & Toubro, Dr Reddy’s, JSW Steel, Adani Ports, and Adani Enterprises emerged as the top laggards.

On Friday, the rupee fell 8 paise to 82.64 versus the US dollar. Oil prices rose on Monday after China made moves to help its ailing economy.