Opening Bell: Markets Trade Lower Amid Negative Global Cues; Sensex At 65,809.46, Nifty At 19,589.70

Opening Bell: Markets Trade Lower Amid Negative Global Cues; Sensex At 65,809.46, Nifty At 19,589.70

L&T, State Bank of India, TCS, Maruti and Bharti Airtel were the top gainers in the morning session, whereas Power Grid, Bajaj Finance, IndusInd Bank, Tata Steel and JSW Steel were among the losers.

FPJ Web DeskUpdated: Thursday, September 07, 2023, 09:18 AM IST
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Opening Bell: Markets Trade Lower Amid Negative Global Cues; Sensex At 65,809.46, Nifty At 19,589.70 | Representative Image

The markets on Thursday morning opened lower with Sensex at 65,809.46, down by 71.06 points and Nifty was at 19,589.70 with a loss of 21.35 points. L&T, State Bank of India, TCS, Maruti and Bharti Airtel were the top gainers in the morning session, whereas Power Grid, Bajaj Finance, IndusInd Bank, Tata Steel and JSW Steel were among the losers.

Markets on Wednesday

The benchmark indices ended on a positive note. The 30-share BSE Sensex was up 100.27 points to end the day at 65,880.52 and the NSE Nifty went up by 59.35 points to end the day at 19,634.25.

Global markets

US markets continued on the downward trend on Wednesday as stronger-than-expected service sector data fueled concerns that interest rates may continue to stay higher for a longer period. The Dow Jones Industrial average lost 198.78 points to 34,443.19, the S&P 500 dropped 31.35 points at 4,465.48 and the Nasdaq Composite fell 148.48 points at 13,872.47.

The Asian stock markets were largely trading lower on Thursday with Japan's Nikkei 225 falling 49.89 points at 33,191.13, Hong Kong's Hang Seng shed 135.46 points at 18,314.52 and South Korea's KOSPI dropped 18.62 points at 2,544.72. However, GIFT Nifty exchange was trading slightly higher at 19,627 up by 2 points.

Oil prices

Oil prices continued to trade higher on Thursday amid worries of supply shortage post Saudi Arabia and Russia's extended voluntary supply cut in addition to fall in US crude inventories. Brent crude futures for November lost 0.16 cents at $90.44 per barrel and US West Texas Intermediate crude fell to $87.33 per barrel with a loss of 21 cents.

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

Rupee

The Indian rupee opened flat on Thursday morning at 83.12 per dollar against Wednesday's close of 83.13.

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