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Markets may start with muted numbers today

4 Sep 2023 , 08:44 AM

Indian benchmark indices may start today’s session on a flat note. On Friday, markets closed on a positive note with substantial gains. Nifty 50 closed 182 points higher at 19,435. Sensex ended with a gain of 556 points at 65,387.

Globally, US markets closed with modest gains in their last session on Friday. Dow Jones ended 116 points higher. Nasdaq ended flat. S&P 500 closed with a gain of 8 points.

Asian peers edged higher in the early morning session as investors bet the Federal Reserve would stop rising interest rates in the United States, and on optimism that Beijing’s drip-feed of economic stimulus would be enough to stabilize the Chinese economy.

Chinese Shanghai Composite is trading with a gain of 1.10%. Hong Kong’s Heng Seng is trading flat. Japan’s Nikkei 225 closed 0.50% higher. Taiwan index was trading 0.26% higher. South Korean Kospi is trading with a gain of 0.22%.

Nifty Midcap 50 stocks closed 0.70% higher. Nifty Bank ended with a gain of 1%.

On Friday, the top gainers on nifty index were NTPC, Jio Financial, ONGC, JSW Steel, and Tata Steel. Biggest laggards were Cipla, HDFC Life, Dr Reddy’s, Nestle India, and Ultratech Cement.

Due to currency inflows and good macro indicators, the rupee regained 8 paise to close at 82.62 against the US dollar on Friday. Oil prices rose slightly in Asian morning trade on Monday, as encouraging economic news from China and the United States boosted the market mood.

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  • sensex
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