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Opening Bell: Markets Trade Lower; Sensex At 63,145.63, Nifty At 18,729.35 | Representative Image
The markets on Thursday morning were trading flat with Sensex at 65,414.52, down by 31.52 points and Nifty was at 19,384.05 with a loss of 14.45 points. Power Grid, Mahindra and Mahindra, UltraTech Cements, Asian Paints and Nestle were the top gainers in the morning session, whereas IndusInd Bank, Tata Steel, Hindustan Unilever, Titan and Maruti were among the losers.
Service sector PMI
The seasonally adjusted S&P Global India Services PMI Business Activity Index fell to a three-month low in June from 61.2 in May to 58.5. Despite falling from May, the latest figure was consistent with a sharp pace of growth. For the 23rd straight month, the headline figure was above the neutral 50 threshold.
Markets on Tuesday
The BSE Sensex was down 33.01 points to end the day at 65,446.04. The NSE Nifty50 was up 26.85 points to end the day at 19,415.85. Nifty midcap hit a record high on Wednesday after Nifty banks hit a new record high on Tuesday.
Global markets
US markets on Wednesday ended lower after the release of the US Federal Reserve’s latest meeting. The Dow Jones Industrial Average lost 129.83 points to 34,288.64, the S&P 500 dropped 8.77 points to 4,446.82 and Nasdaq Composite fell 25.12 points to 13,791.65.
The Asian stock markets on Thursday were trading lower with Hong Kong’s Hang Seng losing 169.76 points at 18,940.62, Japan’s Nikkei 225 fell by 345.86 points at 32,992.84, South Korea’s Kospi was down by 5.12 points at 2,573.88 and GIFT Nifty exchange slipped 36 points to 19,476.
Oil prices
Oil prices on Thursday were comparatively stable, sluggish demand recovery in China offset tighter supply forecasts with output cuts from Saudi Arabia and Russia. Brent crude futures went down 2 cents at $76.63 per barrel and US West Texas Intermediate crude was at $71.90 per barrel with a gain of 11 after it closed 2.9 per cent higher on Wednesday.
Rupee
Indian rupee opened lower on Thursday at 82.36 per dollar against Wednesday’s close of 82.22.
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