Markets may start session with positive sentiments

21 Mar 2024 , 09:06 AM

Indian benchmark indices may start today’s session with positive numbers. Yesterday, markets ended with modest gains on the charts. BSE Sensex closed 90 points higher at 72,101. NSE Nifty ended with a gain of 22 points at 21,839.

On the global front, Wall Street’s main stock indices closed higher on Wednesday as the Federal Reserve calmed market concerns by leaving borrowing prices constant and maintaining predictions that rates might be reduced up to three times this year. Dow Jones closed 401 points higher. Nasdaq Composite index ended with a gain of 203 points. S&P 500 closed higher by 46 points.

On Thursday, Asian markets rebounded, while gold prices and Japan’s Nikkei soared to new highs after the US Federal Reserve suggested that it will continue to decrease interest rates. Chinese Shanghai Composite is trading 0.21% lower. Japan’s Nikkei 225 closed 1.67% higher. Hong Kong’s Hang Seng index is trading with a jump of 1.68%. South Korean Kospi is trading with an upside of 2.10%. Taiwan index is trading 1.92% higher.

On the nifty index, Eicher Motors, Maruti Suzuki, Nestle India, Power Grid, and SBI emerged as the top gainers. Tata Steel, Tata Consumer, Tata Motors, Hindalco, and UPL ended as the top laggards.

Oil prices recovered on Thursday after sliding the previous day, as drops in US crude and petrol inventories bolstered the market following hints that the US Federal Reserve may keep interest rates higher for longer hampered the outlook for future fuel consumption.

The rupee fell 16 paise to settle at 83.19 versus the US dollar on Wednesday, driven down by a strong US currency against key competitors overseas and rising crude oil prices.

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