Opening bell: Markets in red; Sensex at 61,671.91, Nifty at 18,190.75

Opening bell: Markets in red; Sensex at 61,671.91, Nifty at 18,190.75

The stocks of Shree Cements, Aditya Birla Fashion, BPCL and PB Fintech will be in focus as the companies are announcing the results for the last quarter today.

FPJ Web DeskUpdated: Monday, May 22, 2023, 09:20 AM IST
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Opening bell: Markets in red; Sensex at 61,671.91, Nifty at 18,190.75 | Image: Wikipedia (Representative)

The markets on Monday opened in red with Sensex at 61,671.91, down by 57.77 points and Nifty was at 18,190.75 with a loss of 12.65 points. Power Grid, Titan, NTPC, Infosys and Wipro were the top gainers whereas Maruti, Sun Pharma, L&T, ITC and TCS were the top losers.

The stocks of Shree Cements, Aditya Birla Fashion, BPCL and PB Fintech will be in focus as the companies are announcing the results for the last quarter today.

Markets on Friday

Domestic markets faced headwinds last week due to weak cues from the global markets but it found firmer ground on Friday after a three-session losing streak amid a positive trend in global markets and unabated foreign fund inflows. Sensex gained 298 points to end the week at 61,729 and Nifty also surged by 0.41 per cent to end the day above the 18,200 point mark.

Global markets

US stocks that were higher for two consecutive days on the back of solid economic data and positive earnings season on Friday ended lower as negotiations to raise the US debt ceiling between White House and Republic Congress broke with no progress cited by either side and no additional meeting set up in the coming week.

The Dow Jones Industrial Average fell 109.28 points to 33,426.63, the S&P 500 was comparatively flat with a drop of 6.07 points and moved to 4,191.98 and the Nasdaq Composite lost 30.94 points to 12,657.90.

The Asian markets were flat on Monday morning with investors worried about the approaching deadline for the US debt ceiling and no progress cited by the White House or Republic Congress. Singapore's SGX Nifty slumped by 24.50 points to 18,213 and Japan's Nikkei 225 was slightly lower with a fall of 2.23 points at 30,806.12. However, South Korea's KOSPI was at 2,558.27 with a gain of 20.48 points and Hong Kong's Hang Seng saw a jump of 10.39 points at 19,460.96.

Oil prices

Oil prices on Monday morning were higher as investors are watching if the pledge by the G7 nations to enforce price caps on Russian energy would impact exports. Brent crude futures jumped 14 cents to $75.72 per barrel and US West Texas Intermediate crude was at $71.84 with a gain of 15 cents.

Rupee

Indian rupee on Monday opened lower at 82.79 per dollar against Friday's close of 82.66.

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