Markets may start on a flat note

12 Sep 2023 , 08:31 AM

Indian benchmark indices may start today’s session on a flat note. Yesterday, markets closed with heavy gains with Sensex closing 528 points higher at 67,127. Nifty 50 closed 176 points higher at 19,996.35.

Globally, US indices closed with marginally positive numbers. Dow Jones closed with a gain of 87 points. Nasdaq ended with a gain of 157 points. S&P 500 closed 30 points higher.

Asian Equities are trading on the sideways in Tuesday’s early morning session ahead of US inflation data. Chinese Shanghai Composite was trading 0.09% lower. Hong Kong’s Heng Seng is down by 0.23%. Japan’s Nikkei 225 closed 0.61% higher. Taiwan index is trading with a gain of 0.44%. South Korean Kospi index is trading 0.46% lower.

Nifty Midcap 50 stocks closed 0.67% higher. Bank Nifty closed with an uptick of 1%.

Adani Ports, Adani Enterprises emerged as the biggest gainers on nifty index, followed by Axis Bank, Apollo Hospital, and Power Grid. Coal India, Bajaj Finance, ONGC, and Larsen & Toubro were the only laggards in yesterday’s session.

On Monday, the rupee closed nearly flat at 83.03 against the US dollar. Brent crude prices remained slightly above $90 a barrel on Tuesday, as investors awaits macroeconomic data due later this week that could indicate whether Europe and the United States will continue to raise interest rates.