Good Morning All,
The Indian stock market is expected to open on a cautious note as trends on SGX Nifty indicate a flat opening for the index in India with a 13-points gain.
The BSE Sensex jumped 514.34 points to 59,005.27, while the Nifty50 climbed 165.10 points to 17,562 and formed bullish candle on the daily charts.
According to pivot charts, the key support levels for the Nifty are placed at 17,399.3, followed by 17,236.6. If the index moves up, the key resistance levels to watch out for are 17,651.5 and 17,741.
US Markets
US stocks ended near flat on Tuesday after a broad sell-off the day before, with worries over troubles at developer China Evergrande and caution ahead of Wednesday’s Federal Reserve policy news keeping a lid on the market.
The Dow Jones Industrial Average fell 50.63 points, or 0.15%, to 33,919.84, the S&P 500 lost 3.54 points, or 0.08%, to 4,354.19 and the Nasdaq Composite added 32.50 points, or 0.22%, to 14,746.40.
Asian Markets
Asian stock markets made a cautious start on Wednesday and the dollar held firm amid lingering nerves about the fallout from a looming failure at developer China Evergrande and anticipation the Federal Reserve may move a step closer to tapering.
Japan’s Nikkei fell 0.5%. Equity, bond and currency markets in China open for the first time on Wednesday since concern over Evergrande’s predicament triggered a wave of selling and contagion worries around the world.
SGX Nifty
Trends on SGX Nifty indicate a cautious opening for the index in India with a 13-points gain. The Nifty futures were trading at 17,574 on the Singaporean Exchange around 07:30 hours IST.