Sensex, Nifty50 Open Flat; Hindustan Zinc Down 8%, HUL 3%

Sensex Today: Benchmark indices opened flat in Friday’s trade amid mixed global cues. Key indices Nifty50 was flat above 18,100 levels, whereas the S&P BSE Sensex dropped 30 points to trade around 60,825 levels.

Broader markets, meanwhile, were mixed in trade as Nifty MidCap 100 index underperformed Nifty SmallCap 100 index.

Sectorally, Nifty Bank and Nifty Media indices were off to a positive start. However, Nifty FMCG and Nifty Pharma indices declined up to 0.9 per cent.

Among individual stocks, shares of Reliance Industries (RIL) lowered 0.5 per cent ahead of third quarter results (Q3FY23).

Global Cues

Most Asian equity markets edged higher on Friday, while the U.S. dollar hung near its weakest level since May, with investors fretting about the risks of a global recession as the Federal Reserve presses on with interest rate increases.

Tokyo stocks opened lower on Friday, extending falls on Wall Street, as worries over a recession lingered after a top Federal Reserve official pledged a tough line on inflation.The benchmark Nikkei 225 index was down 0.32 percent, or 83.27 points, at 26,321.96 in early trade, while the broader Topix index slipped 0.19 percent, or 3.62 points, to 1,912.00.

US stock indexes closed lower on Thursday after data pointing to a tight labor market renewed concerns the Federal Reserve will continue its aggressive path of rate hikes that could lead the economy into a recession.

Oil prices rose on Friday on optimism that the U.S. Federal Reserve will ends its tightening cycle, buoying the economy and boosting fuel demand. Brent futures for March delivery gained 48 cents, or 0.6%, to $86.64 a barrel by 0113 GMT, while U.S. crude advanced 54 cents to $80.87 per barrel, a 0.7% gain.

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