Markets may start with a muted tone

27 Sep 2023 , 08:13 AM

Indian benchmark indices may begin today’s session with not much enthusiasm amidst a dim tone in the overall markets. Yesterday, markets closed under pressure. Sensex closed 78 points lower at 65,945. Nifty 50 closed marginally down at 19,665.

Globally, US markets closed with significant downfall. Dow Jones closed 388 points lower. Nasdaq ended with a decline of 208 points. S&P 500 ended 64 points lower.

On the contrary, Asian markets are trading with gains in today’s morning session. Chinese Shanghai Composite is trading 0.25% higher. Hong Kong’s Heng Seng is trading higher by 0.76%. Japan’s Nikkei 225 closed 0.48% lower. Taiwan index was marginally down. South Korean Kospi is trading 0.36% lower.

Nifty Midcap 50 stocks closed 0.40% lower, Nifty Bank ended the previous session with a 0.32% decline.

Eicher Motors, Hero MotoCorp, Nestle India, ONGC, and Bajaj Auto emerged as the top gainers on Tuesday. Top laggards were Cipla, Tech Mahindra, IndusInd Bank, Adani Enterprises, and Asian Paints.

The rupee fell for the second day in a row, closing 15 paise down at 83.28 against the US dollar on Tuesday. Oil prices rose slightly in early trade on Wednesday, as markets focused on supply constraints heading into winter and a ‘soft landing’ for the US economy.