Markets may start the session with positive numbers tracking global cues

20 Dec 2023 , 09:25 AM

Indian benchmark indices may start today’s session with higher numbers and may reach new highs in today’s session driven by positive sentiments in global markets. Yesterday, markets closed with higher numbers, reversing early morning losses. BSE Sensex closed 122 points higher at 71,437. NSE Nifty ended 34 points higher at 21,453.

On the global front, US markets closed in a cheery spirit. Dow Jones closed 252 points higher. Nasdaq Composite ended with a gain of 98 points. S&P 500 was 28 points higher at closing.

Asian markets are in a higher momentum as US rate cut expectations lingered near the year’s end. Chinese Shanghai Composite is trading marginally lower. Japan’s Nikkei 225 closed with a gain of about 1.75%. South Korean Kospi index is trading 1.36% higher. Hong Kong’s Hang Seng index is trading with a gain of over 1%. Taiwan index is up by 0.28%.

Nifty Midcap 50 stocks closed 0.47% lower in their previous session. Nifty Bank closed flat.

The top gainers in the previous session were Coal India, Nestle India, NTPC, Tata Consumer, and Cipla. On the other hand, Adani Ports, Wipro, Adani Enterprises, UPL, and TCS emerged as the top laggards.

Oil prices rose slightly on Monday after increasing more than 1% the previous day due to concerns about global trade disruption. The rupee fell 8 paise to 83.18 versus the US dollar on Tuesday, owing to dollar purchases by importers amid ongoing concerns over oil supply via the Red Sea route.

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