Markets may start in positive tune today

12 Oct 2023 , 08:43 AM

Indian benchmark indices may start today’s session with positive numbers. Yesterday, markets ended the session with attractive gains. Sensex ended 394 points higher at 66,473. Nifty 50 closed 122 points higher at 19,811.

Globally, US markets closed with gains as investors are cautious of dovish remarks from Federal Reserve officials. Dow Jones ended with a gain of 66 points. Nasdaq Composite closed 99 points higher. S&P 500 ended up by 19 points.

Asian equities are in upward motion today as markets wager on Fed pivot. Chinese Shanghai Composite is trading 0.45% higher. Hong Kong’s Hang Seng is trading 1.68% higher. Japan’s Nikkei 225 closed with an uptick of 1.36%. Taiwan index is trading 0.36% higher. South Korean Kospi is trading higher by 0.97%.

Nifty Midcap 50 stocks closed with an uptick of 0.34%. Nifty Bank ended 0.35% higher.

Among the top stocks in Wednesday’s session were, Hero MotoCorp, Grasim, Wipro, Ultratech Cement, and Reliance Industries. HCL Tech, Coal India, LTIMindtree, SBI, and TCS were the top laggards.

For the second day in a row, the rupee gained ground versus the US dollar, rising 7 paise to close at 83.18.

Oil prices fell for a third session, pulled down by a larger-than-expected build in crude and petrol stocks in the United States and easing supply fears.