Markets may start on a positive note

8 Sep 2023 , 07:57 AM

Indian benchmark indices may start on a positive note today. Yesterday, markets closed in green, extending gains for the fifth consecutive session. Sensex closed 385 points higher at 66,266. Nifty 50 closed with a gain of 116 points at 19,727.

On the global front, US markets closed in mixed numbers as job data raises further rate concerns. Dow Jones closed 57 points higher. Nasdaq ended with a decline of 124 points. S&P 500 closed 14 points lower.

Asian equities tumbled in early morning trade today owing to a downfall in US tech shares. Chinese Shanghai Composite is trading 0.44% lower. Hong Kong’s Heng Seng is trading flat. Japan’s Nikkei 225 closed 1.02% lower. Taiwan index is trading 0.62% lower. South Korean Kospi is down by 0.36%.

Nifty Midcap 50 closed 0.45% higher. Nifty Bank closed with a gain of 1.06%.

Coal India, Larsen & Toubro, IndusInd Bank, SBI Life, and SBI were the top gainers on Thursday. On the flip side, Tata Consumer, ONGC, Britannia Industries, Mahindra & Mahindra, and Sun Pharma emerged as the biggest losers.

The rupee fell for the fourth day in a row, declining 10 paise to a lifetime low of 83.23 against the US dollar on Thursday, owing to a strong US currency and international capital outflows. Oil prices fell for a second day on Friday, driven down by persistent fears about slowing global demand.