Opening bell: Markets trade flat amid mixed global cues; Sensex at 62,350.96, Nifty at 18,396.55

Opening bell: Markets trade flat amid mixed global cues; Sensex at 62,350.96, Nifty at 18,396.55

The stocks of Jindal Stainless, Jubilant FoodWorks, JK Tyre & Industries, Quess Corp, TeamLease, Eris Lifesciences and Honeywell Automation will be in focus as the companies are announcing the results for the last quarter today.

FPJ Web DeskUpdated: Wednesday, May 17, 2023, 09:19 AM IST
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Opening bell: Markets trade flat amid mixed global cues; Sensex at 62,350.96, Nifty at 18,396.55 | Image: Wikipedia (Representative)

The markets on Wednesday opened in red with Sensex at 61,865.92, down by 66.55 points and Nifty was down by 10.90 points at 18,275.60. Airtel, Tata Motors, Mahindra and Mahindra, Ultra Cement and Maruti were the top gainers whereas Bajaj Finserv, IndusInd Bank, ICICI Bank, Asian Paints and NTPC were the top losers.

The stocks of Jindal Stainless, Jubilant FoodWorks, JK Tyre & Industries, Quess Corp, TeamLease, Eris Lifesciences and Honeywell Automation will be in focus as the companies are announcing the results for the last quarter today.

Markets on Tuesday

With most sectors barring public sector banks ending in the red, Sensex tumbled by 432 points to hit the 61,913 mark at the end of the day. Nifty also closed lower at 18,273 as auto, healthcare, infrastructure and metal stocks lost the most.

While state-owned BPCL, ONGC and Coal India led the gainers, HDFC and Tata motors were the worst losers.

Global markets

US stocks, after going higher on Monday, closed in the red on Tuesday amid mixed economic data, weak corporation results and ongoing debt ceiling negotiations in Washington. The Dow Jones Industrial Average was down by 336.46 points at 33,012.14, the S&P 500 slipped 26.38 points to 4,109.9 and Nasdaq Composite dipped 22.16 points to 12,343.05.

With the US stocks down, the Asian markets Wednesday morning were trading mixed with Singapore's SGX Nifty down by 40 points at 18,289.50, Hong Kong's Hang Seng saw a drop of 150.15 points to 19,828.10. On the other hand Japan's Nikkei 225 jumped 211.86 points at 30,054.85 and South Korea's KOSPI was slightly higher at 2,491.81 with a gain of 11.57 points.

Oil prices

Oil prices on Wednesday fell for a second day after a surprising rise in US crude inventories helped calm demand concerns. Brent crude futures dipped 29 cents to $74.60 per barrel and US West Texas Intermediate crude was at $70.55 down by 32 cents.

Rupee

Indian rupee on Wednesday opened lower at 82.30 per dollar against Tuesday's close of 82.21.

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