Markets may start on the downside

26 Sep 2023 , 08:33 AM

Indian benchmarks may ring opening bells on the negative side. Yesterday, markets closed with marginals gains. Sensex closed 14 points higher at 66,023. NSE Nifty ended flat at 19,674.

On the global front, US markets ended previous session with modest gains. Dow Jones closed 43 points higher at 34,006.88. Nasdaq Composite ended with a gain of 60 points. S&P 500 closed 17 points higher.

Asian equities are trading on the flipside today despite modest gains on the Wall Street. Chinese Shanghai Composite is trading 0.09% lower. Hong Kong’s Heng Seng is trading down by 0.67%. Japan’s Nikkei 225 closed 0.91% lower. Taiwan index is down by 0.82%. South Korean Kospi is trading 1.32% down.

Yesterday, nifty Midcap 50 stocks closed 0.92% higher. Nifty Bank index ended marginally higher.

Bajaj Finance, Tata Consumer, Bajaj Finserv, Apollo Hospitals, and Coal India emerged as the top gainers on Monday. On the other hand, Hindalco, SBI Life, Hero MotoCorp, Infosys, and Mahindra & Mahindra closed as the biggest laggards. 

The rupee fell 19 paise to 83.13 vs the US dollar on Monday, owing to increased crude oil prices and the US currency’s strength against major rivals overseas. Oil prices fell early Tuesday on expectations that major central banks may keep interest rates higher for longer, reducing fuel consumption.