Markets may start on a negative note

7 Sep 2023 , 09:13 AM

Indian benchmark indices may begin today’s session in the red territory. Yesterday, markets closed with modest gains with Sensex closing up by 100 points at 65,880. Nifty 50 closed at 19,611.

On the global front, US markets closed on a sluggish note as economic data ignites inflation and interest rate concerns. Dow Jones closed 198 points lower. Nasdaq ended with a decline of 148 points. S&P 500 ended 31 points lower.

Asian peers are also trading in a lacklustre momentum tracking declines on the Wall Street. Chinese Shanghai Composite is trading 0.66% lower. Hong Kong’s Heng Seng is trading 0.94% lower. Japan’s Nikkei 225 closed 0.11% lower. Taiwan index is down by 0.48%. South Korean Kospi index is trading 0.66% lower.

Nifty Midcap 50 index closed marginally higher. Nifty Bank ended 0.28% lower.

Tata Consumer, Divis Lab, Bharti Airtel, HDFC Bank, and Britannia Industries emerged as the biggest gainers on nifty index on Wednesday. While Tata Steel, Hindalco, Axis Bank, NTPC, and IndusInd Bank fell the most.

Oil prices rose slightly on Thursday as industry data showed that crude oil stocks in the United States were expected to fall last week. The rupee fell 9 paise against the US dollar on Wednesday, reaching an all-time low of 83.13.