Good Morning All,
The Indian stock market is expected to open on a cautious note as trends on SGX Nifty indicate a negative opening for the index in India with a 22 points loss.
The BSE Sensex rose 505.72 points to 44,655.44 on December 1 while the Nifty50 rose 140 points to 13,109.
According to pivot charts, the key support levels for the Nifty is placed at 13,005.07, followed by 12,901.13. If the index moves up, the key resistance levels to watch out for are 13,170.67 and 13,232.33.
US Markets
The S&P 500 and Nasdaq Composite indexes closed at record highs on Tuesday, with investors betting a COVID-19 vaccine will be available soon, and more confident about a speedy economic recovery following upbeat Chinese factory data.
The Dow Jones Industrial Average rose 0.63% to end at 29,823.92 points, while the S&P 500 gained 1.13% to 3,662.44. The Nasdaq Composite climbed 1.28% to 12,355.11.
Asian Markets
Asian markets were set to climb on Wednesday after Wall Street indexes closed at record highs as investors grow increasingly hopeful about a vaccine to combat rising COVID-19 cases and an economic recovery.
MSCI's gauge of stocks across the globe gained 0.09%. In early trade, Australia's S&P ASX 200 also rose about 0.11%. The futures contract for the Nikkei 225 index rose 0.15% on Wednesday while Hong Kong's Hang Seng index futures rose 0.31%.
SGX Nifty
Trends on SGX Nifty indicate a negative opening for the index in India with a 22 points loss. The Nifty futures were trading at 13,129 on the Singaporean Exchange around 07:30 hours IST.