Markets may start on sluggish note

17 Aug 2023 , 08:56 AM

Indian benchmark indices may start the day with lower numbers today as indicated by the market indicator. Yesterday, Nifty 50 closed at 19,465. Sensex closed at 65,539. Markets witnessed high volatility after closing with subdued numbers.

Globally, US markets ended the session with declines due to no clarity over the Fed interest outlook. Dow Jones closed 181 points lower. Nasdaq ended with a decline of 156 points. S&P 500 ended 33 points down.

Asian equities were mostly under pressure, tracking cues from Wall Street. Chinese Shanghai Composite was trading flat. Hong Kong’s Heng Seng was down by 0.45%. Japan’s Nikkei 225 closed 0.91% lower. Taiwan index was down by 0.55%. South Korean Kospi was trading 0.57% lower.

Nifty Midcap 50 index closed marginally higher. Nifty Bank was down by 0.33% in the previous session.

Yesterday, the gainers’ chart was led by Apollo Hospital, Ultratech Cement, NTPC, Infosys, and Tata Motors. Tata Steel, Adani Ports, Hindalco, HDFC Life, and Bharti Airtel were the biggest losers on the nifty pack.

Oil prices slipped in today’s early morning session, registering losses for the fourth consecutive session.