Markets may start session with flat numbers

21 Aug 2023 , 08:44 AM

Indian benchmark indices may make a muted start in today’s trade amidst weakness in other global peers. Investors are cautious of more rate hikes by US Fed. Nifty 50 closed at 19,310. Sensex ended at 64,949.

On the global front, US markets closed with little gains. Dow Jones closed 26 points higher. Nasdaq ended with a decline of 26 points. S&P 500 was flat in its Friday session.

Asian equities fell in Monday’s early morning trade as China cut interest rates lower than expected. Chinese Shanghai Composite fell 0.48%. Hong Kong’s Heng Seng was trading 1.21% lower. Japan’s Nikkei was trading 0.95% higher. Taiwan index was marginally up. South Korean Kospi was trading 0.64% higher.

On Friday, Nifty Midcap 50 closed 0.45% lower. Nifty Bank was down by 0.09%.

Adani Enterprises, Adani Ports, Eicher Motors, Maruti Suzuki, and Britannia Industries were the top gainers. Hero MotoCorp, Tech Mahindra, TCS, Hindalco, and Infosys fell the most on Friday.

Oil prices are little moved on Monday as investors counter balanced tightening supply driven by OPEC+. The Indian rupee closed at an all-time low of 83.10 against the greenback.

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