Opening Bell: Markets Trade Flat Amid Mixed Global Cues; Sensex At 65,790.18, Nifty At 19,578.30

The markets on Wednesday morning opened flat with Sensex at 65,790.18, up by 1.45 points and Nifty was at 19,578.30 with a gain of 3.40 points. Power Grid, Wipro, Bharti Airtel, NTPC and UltraTech Cement were the top gainers in the morning session, whereas Asian Paints, Nestle, Bajaj Finance, IndusInd Bank and JSW Steel were among the losers.

Markets on Tuesday

The benchmark indices ended on a positive note on Tuesday. The 30-share BSE Sensex was up 152.12 points to end the day at 65,780.26 and the NSE Nifty went up by 46.10 points to end the day at 19,574.90. Nifty Bank slipped 46.15 points at 44,532.15 and Midcap index posted record close, ending above 40,000 for the first time ever.

Global markets

US markets closed lower after a long weekend on Tuesday as Treasury yields rose along with oil prices. The Dow Jones Industrial average lost 195.74 points to 34,641.97, the S&P 500 dropped 18.94 points at 4,496.83 and the Nasdaq Composite fell 10.86 points.

The Asian stock markets were trading mixed on Wednesday with GIFT Nifty exchange trading lower at 19,665.50 down by 5 points, Hong Kong's Hang Seng shed 103.61 points at 18,353.30 and South Korea's KOSPI dropped 11.86 points at 2,570.32. However, Japan's Nikkei 225 added 136.84 points at 33,173.60.

Oil prices

Oil prices were trading higher on Wednesday amid worries of supply shortage post Saudi Arabia and Russia's extended voluntary supply cut. Brent crude futures for November added 17 cents at $90.21 per barrel and US West Texas Intermediate crude jumped to $86.92 per barrel with a gain of 23 cents.

While the Brent crude futures crossed the $90 mark for the first time since November, US West Texas Intermediate crude touched a 10-month high in the previous session.

Rupee

The Indian rupee opened flat on Wednesday morning at 83.02 per dollar against Tuesday's close of 83.03.

Published on: Wednesday, September 06, 2023, 09:19 AM IST