Markets may start in red

16 Aug 2023 , 09:06 AM

Markets may start in red

Indian benchmark indices may begin today’s session on the downside after closing in a flat trajectory on Monday. Nifty 50 closed at 19,434. Sensex ended at 65,401.

Globally, US markets closed with losses as renewed concerns about interest rates weighed down investor sentiment. Dow Jones closed 361 points lower. Nasdaq ended with a decline of 157 points. S&P 500 closed down by 52 points.

Asian markets are trading in a negative sentiment owing to weak China data and renewed US concerns. Chinese Shanghai Composite is trading 0.09% lower. Hong Kong’s Heng Seng is trading 1% lower. Japan’s Nikkei 225 closed 1.03% lower. Taiwan index was down by 0.42%. South Korean Kospi is trading down by 1.27%.

On Monday, Nifty Midcap 50 stocks closed marginally higher. Nifty Bank closed under pressure.

Top gainers on the nifty pack were Divis Lab, Infosys, LTIMindtree, Hindustan Unilever, and Reliance Industries. Adani Enterprises, JSW Steel, Hindalco, SBI, and Adani Ports were the top losers on Monday.

Oil prices were stable in early morning trade after a 1% decline in the previous session. Indian rupee closed 26 paise lower to its all-time low of Rs 83.08 against the US dollar.