The Indian stock market is expected to open flat as US markets ended lower while on the other hand Asian markets are trading mixed. Trends on SGX Nifty indicate a flat opening for the index in India with a 3 points loss.
The Sensex fell 323 points to close at 38,979.85 on September 17 while the Nifty dropped 88.40 points to 11,516.10. According to pivot charts, the key support levels for the Nifty is placed at 11,480.67, followed by 11,445.23. If the index moves up, the key resistance levels to watch out for are 11,569.37 and 11,622.63.
US Markets
US stocks fell on Thursday as technology-related shares slid for a second day and as government data showed high levels of weekly jobless claims.
The Dow Jones Industrial Average fell 130.4 points, or 0.47%, to 27,901.98, the S&P 500 lost 28.48 points, or 0.84%, to 3,357.01 and the Nasdaq Composite dropped 140.19 points, or 1.27%, to 10,910.28.
Asian Markets
Asian shares looked set to rise on Friday following pledges by central bankers globally to do whatever it takes to support the economic recovery while oil perked up as OPEC threatened to clamp down on member states that did not cut output.
Australian S&P/ASX 200 futures rose 0.29% in early trading. Japan's Nikkei 225 futures added 0.09%, while Hong Kong's Hang Seng index futures rose 0.37%.
SGX Nifty
Trends on SGX Nifty indicate a flat opening for the index in India with a 3 points loss. The Nifty futures were trading at 11,525 on the Singaporean Exchange around 07:30 hours IST.