Markets may start the week on a flat note

26 Feb 2024 , 08:55 AM

Indian benchmark indices may start today’s session on a flat note. On Friday, markets closed in a weak spot. BSE Sensex ended with a decline of 15 points at 73,142. NSE Nifty closed marginally lower at 22,212.

On the global front, US markets closed in mixed numbers. Dow Jones index closed 62 points higher. Nasdaq Composite ended with a decline of 45 points. S&P 500 closed flat.

Asian markets remained near seven-month highs on Monday as investors anticipated inflation data from the United States, Japan, and Europe, which would help revise expectations for future interest rate hikes.

Chinese Shanghai Composite is trading 0.52% lower. Japan’s Nikkei 225 closed with a gain of 0.54%. Hong Kong’s Hang Seng index is trading with a decline of 0.62%. South Korean Kospi index is trading 0.63% lower. Taiwan index is trading up by 0.11%.

Oil prices dipped in early Asian trade on Monday, extending losses from the previous session. Oil closed the week 2-3% down due to market fears that higher-than-expected inflation will postpone US interest rate decreases.

The rupee remained in a limited range and fell 6 paise to settle at 82.91 versus the US dollar on Friday, following a lacklustre trend in local stocks.

Gold prices fell on Monday, weighed down by a stronger dollar, as investors waited for more signals on when the US Federal Reserve might drop interest rates for the first time this year.

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