Markets trade in red; Nifty below 23,700, Sensex falls 175 points

The Indian equity indices trade on a positive note for the 8th consecutive session. The Nifty 50 was up 32 points or 0.13% at 23,700 while the BSE Sensex rose 49 points or 0.06% at 78,066. It took cues from the Asian markets, which are mostly higher.

Here are key factors to watch out for trade-

US markets: The US stock markets extended gains for the second straight session on Tuesday on hopes of softer US tariffs than earlier expected. The S&P 500 rose 0.16%, closing at 5,776.65. The Nasdaq Composite added 0.46%, ending the session at 18,271.86. However, the Dow Jones Industrial Average inched up 4 points, or 0.01%, to close at 42,587.50.

Asia markets: The Asian indices were trading in the green during the early hours of trading on Wednesday taking cues from the Wall Street’s overnight gains. Japan’s Nikkei 225 was trading 0.39% higher at 37,929.

However, the Asia Dow was trading 0.21% higher at 3,744.83. South Korea’s Kospi was up 0.42% at 2,626. The Shanghai Composite was trading flat at 3,370.

FII buying: The foreign institutional investors (FIIs) have turned buyers for the fourth straight session. They were the net sellers in the cash market for the last five months, excluding March. The outflow since October exceeds Rs 3 lakh crore.