Marketbuzz Podcast with Reema Tendulkar: Sensex, Nifty 50 likely to open lower tracking global cues
Episode 1105, Sep 27, 2023, 03:36 AM
Indian benchmark indices — Sensex and Nifty 50 — are projected to commence the trading session on September 27 on a negative note, mirroring the trend in global markets.
On Wall Street, the Dow recorded its most significant one-day percentage decline since March, with all three major averages closing at their lowest levels in over three months. The Dow Jones Industrial Average fell 1.14 percent, the S&P 500 lost 1.47 percent and the Nasdaq Composite dropped 1.57 percent in the overnight session. This dip was influenced by weak economic data, including new home sales and an unexpected decline in consumer confidence.
Asian stocks displayed a mixed trend on the morning of September 27, while US Treasury yields hovered near multi-year highs, reflecting concerns among investors about both stocks and bonds due to apprehensions regarding prolonged higher interest rates.
Meanwhile, GIFT Nifty suggested a flat start for the domestic market.
The September 26 session was a range-bound session with the Nifty 50 trading in the 19,006 50 to 19,700 range. The index ended at 19,665, a cut of 10 points while the Sensex slipped 78 points to 65,950.
Despite this, it's worth noting that Indian markets have showcased notable resilience throughout the month, currently being ranked as outperformers, with an increase of approximately 2.1 percent. The mid-cap index has notably surged by 3.1 percent, diverging from the downward trend observed in global markets.
The upcoming expiry session on September 28 holds significance, and market watchers are keen to observe whether Indian markets will continue their outperformance. Key stocks under focus for the day include Century Textiles, REC, and Punjab National Bank.
Tune in to Marketbuzz Podcast for more news and cues ahead of today’s session
On Wall Street, the Dow recorded its most significant one-day percentage decline since March, with all three major averages closing at their lowest levels in over three months. The Dow Jones Industrial Average fell 1.14 percent, the S&P 500 lost 1.47 percent and the Nasdaq Composite dropped 1.57 percent in the overnight session. This dip was influenced by weak economic data, including new home sales and an unexpected decline in consumer confidence.
Asian stocks displayed a mixed trend on the morning of September 27, while US Treasury yields hovered near multi-year highs, reflecting concerns among investors about both stocks and bonds due to apprehensions regarding prolonged higher interest rates.
Meanwhile, GIFT Nifty suggested a flat start for the domestic market.
The September 26 session was a range-bound session with the Nifty 50 trading in the 19,006 50 to 19,700 range. The index ended at 19,665, a cut of 10 points while the Sensex slipped 78 points to 65,950.
Despite this, it's worth noting that Indian markets have showcased notable resilience throughout the month, currently being ranked as outperformers, with an increase of approximately 2.1 percent. The mid-cap index has notably surged by 3.1 percent, diverging from the downward trend observed in global markets.
The upcoming expiry session on September 28 holds significance, and market watchers are keen to observe whether Indian markets will continue their outperformance. Key stocks under focus for the day include Century Textiles, REC, and Punjab National Bank.
Tune in to Marketbuzz Podcast for more news and cues ahead of today’s session