MARKET VIEW
GLOBAL MARKETS
Dow Jones fell 482.78 points, or 1.4%, to close at 33,947.1.
S&P 500 lost 72.86 points, or 1.79%, to end on 3,998.84.
Nasdaq Composite dropped 221.56 points, or 1.93%, to finish on 11,239.94.
In Australia, S&P/ASX 200 fell 0.28%. Nikkei 225 in Japan shed 0.23% and Topix lost 0.24%. South Korea’s Kospi dropped around 1%. The MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.45%.
Oil prices fell over 3% on Monday, following US stock markets lower, after US service sector data raised worries that the Federal Reserve could continue its aggressive policy tightening path.
Brent crude futures settled down $2.89, or 3.4%, at $82.68 a barrel.
Euro zone business activity declined for a fifth month in November, suggesting the economy was sliding into a mild recession as consumers cut spending amid surging inflation, a survey showed.
INDIAN MARKET
Sensex fell 34 points to 62,835, while the Nifty50 gained 5 points at 18,701 and formed Doji sort of candle on the daily charts, indicating indecisiveness among bulls and bears about future market trend. Banknifty gained 229 points showing strength and closed at 43333.
The sectors which outperformed were Metal, PSUBank, Realty and the sectors that underperformed were IT, Energy, Auto
Foreign institutional investors (FIIs) have net sold shares worth Rs 1,139.07 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 2,607.98 crore
TODAY’S VIEW
The market is expected to open in the red as trends in the SGX Nifty indicate a negative opening for the broader index in India with a loss of 86 points.
As per the pivot charts, the key support level for the Nifty is placed at 18,621, followed by 18,589 & 18,536. If the index moves up, the key resistance levels to watch out for are 18,726 followed by 18,758 and 18,811.