Good Morning All,
The Indian stock market is expected to open in the green as trends on SGX Nifty indicate a positive opening for the index in India with a 107 points gain.
The S&P BSE Sensex declined 746.22 points to 48,878.54 on January 22 while the Nifty50 index plunged 218.50 points to 14,371.90.
According to pivot charts, the key support levels for the Nifty are placed at 14,279.83, followed by 14,187.77. If the index moves up, the key resistance levels to watch out for are 14,541.93 and 14,711.97.
US Markets
The Dow and S&P 500 ended modestly lower on Friday, dragged down by losses in blue-chip technology stalwarts Intel and IBM following their quarterly results, as hopes for a full economic reopening in the coming months waned.
The Dow Jones Industrial Average fell 179.03 points, or 0.57%, to 30,996.98, the S&P 500 lost 11.6 points, or 0.30%, to 3,841.47 and the Nasdaq Composite added 12.15 points, or 0.09%, to 13,543.06.
Asian Markets
Asian shares were on the defensive on Monday as rising COVID-19 cases and doubts over the ability of vaccine makers to supply the promised doses on time soured risk appetite.
MSCI’s broadest index of Asia-Pacific shares outside Japan was barely changed at 718.72. Japan’s Nikkei fell 0.1%. Australian shares were higher after the country’s drug regulator approved the Pfizer/BioNTech COVID-19 vaccine with authorities saying a phased rollout will begin late next month.
SGX Nifty
Trends on SGX Nifty indicate a positive opening for the index in India with a 107 points gain. The Nifty futures were trading at 14,464 on the Singaporean Exchange around 07:30 hours IST.