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Markets may start on a positive note

28 Feb 2024 , 08:29 AM

Indian benchmark indices may open today’s session with positive numbers. Yesterday, markets closed in a green territory. BSE Sensex closed 305 points higher at 73,095. NSE Nifty closed with a gain of 76 points at 22,198. 

On the global front, U.S. equities finished about flat on Tuesday, ahead of inflation and other economic data that might give insight on the timing of a Federal Reserve rate decrease. Dow Jones closed 97 points lower. Nasdaq Composite index closed with a gain of 59 points. S&P 500 closed marginally up.

Asian equities were cautious on Wednesday ahead of a US inflation data this week, which might impact the timing of the Federal Reserve's easing cycle. Chinese Shanghai Composite is trading 0.27% higher. Japan’s Nikkei 225 closed with a decline of 0.12%. Hong Kong’s Hang Seng index ended 0.18% lower. South Korean Kospi index was up by 0.45%. Taiwan index is trading down by 0.49%.

Yesterday, top gainers on the nifty index were Tata Motors, TCS, Power Grid, IndusInd Bank, and Sun Pharma. Hero MotoCorp, Bajaj Finance, SBI, Bajaj Finserv, and Divis Lab closed on the flipside.

In limited trade on Tuesday, the rupee fell by 1 paisa to settle at 82.89 versus the US dollar, owing to foreign capital withdrawals and heightened month-end demand for the American currency.

Oil prices fell in early Asian trade on Wednesday, as the expectation of a delayed U.S. rate-cutting cycle overshadowed the lift offered by OPEC+ talks of extending output limits.

Gold prices rose up on Wednesday as US bond rates dropped, but investors looked to a major US inflation report and comments from multiple Federal Reserve members this week for new clues on the central bank's interest rate path.

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Related Tags

  • BSE
  • nifty
  • NSE
  • sensex
  • stock market
  • stock market news
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