Markets Trade Higher Amid Positive Global Cues; Sensex At 65,001.41, Nifty At 19,270.30

The markets on Monday morning were trading higher with Sensex at 65,001.41, up by 282.85 points and Nifty was at 19,270.30 with a gain of 81.30 points. Mahindra and Mahindra, UltraTech Cement, HDFC, Tata Motors and HDFC Bank were the top gainers in the morning session, whereas Maruti, Power Grid, Axis Bank, Asian Paints, Sun Pharma were among the losers.

The markets will will also be reacting to the auto sales numbers that were released during the weekend.

Markets on Friday

Sensex went up by 803.14 points to settle at 64,718.56 and Nifty was up 213.45 points at 19,185.55 to end the week. Both the indices reached lifetime high on Friday with Sensex at 64,768.58 and Nifty at 19,201.70. Also, all four frontline indices Sensex, Nifty, Nifty Bank and Midcap ended the day at record close.

Global markets

US markets on Friday advanced with Nasdaq reporting its biggest first-half gain in 40 years after Apple closed with a $3 trillion market valuation for the first time and investors reacted to cooling US inflation. The Dow Jones Industrial Average gained 285.18 points to 34,407.6, the S&P 500 rose 53.94 points to 4,450.38 and the Nasdaq Composite added 196.59 points to 13,787.92.

The Asian stock markets on Monday rose as investors took in a slew of manufacturing activity reports. Hong Kong’s Hang Seng added 1.1 per cent points, Japan’s Nikkei 225 gained 431.73 points at 33,620.77 and Nifty futures on GIFT exchange were trading 23 points higher at 19,368.

Oil prices

Oil prices on Monday morning slipped as further interest rate hikes from the US Federal Reserves indicated tighter supplies amid OPEC+ cuts. Brent crude futures went down by 20 cents at $75.21 per barrel and US West Texas Intermediate crude was at $70.41 per barrel with a loss of 23 cents.

Rupee

Indian rupee opened flat on Monday at 82.01 per dollar against Friday’s close of 82.04.