The markets on Thursday morning were trading flat with Sensex at 63,449, down by 85.75 points and Nifty was at 18,853.60 with a gain of 3.45 points. Tata Steel, Mahindra and Mahindra, HDFC Bank, ICICI Bank and HDFC were the top gainers in the morning session, whereas Infosys, Hindustan Unilever, Tech Mahindra, Power Grid and Kotak Bank were among the losers.
Markets on Wednesday
Sensex went up by 195.14 points to settle at 63,522.84 after hitting an all time high during the day and Nifty was up 41.95 points at 18,858.65. HDFC Bank, HDFC, Reliance, Power Grid Corp were the biggest gainers while ITC, Bajaj Finance, M&M, Axis Bank, Infosys were the losers.
Global markets
US markets on Wednesday closed lower for the third consecutive day after Federal Reserve Chairman Jerome Powell's congressional testimony pointed out the bank's objective to reduce inflation. He also hinted at further interest rate hikes. The Dow Jones Industrial Average dropped 102.35 points to 33951.52, the S&P 500 fell 23.02 points to 4,365.69 and the Nasdaq Composite lost 165.10 points to 13,502.20.
The Asian stock markets were trading mixed after Powell's testimony. Singapore's SGX Nifty was down by 40 points at 18,869, Hong Kong's Hang Seng was at 19,218.35 with a drop of 388.73 points. However, South Korea's KOSPI was at 2,593.90 with a gain of 11.27 points and Japan's Nikkei 225 saw flat at 33,575.63.
Oil prices
Oil prices on Thursday morning were trading lower after the Federal Reserve chairman indicated the possibilities of further rate hikes which could impact the demand. Brent crude futures were down 8 cents at $77.04 per barrel and US West Texas Intermediate crude was at $72.48 per barrel with a fall of 5 cents.
Rupee
Indian rupee opened higher on Thursday at 81.93 per dollar against Wednesday's close of 82.04.
