MARKET VIEW
GLOBAL MARKETS
S&P 500 ended higher on Thursday, snapping a five-session losing streak, as investors interpreted data showing a rise in weekly jobless claims as a sign the pace of interest rate hikes could soon slow.
Dow Jones rose 183.56 points, or 0.55%, to close at 33,781.48.
S&P 500 gained 29.59 points, or 0.75%, to finish at 3,963.51.
Nasdaq Composite added 123.45 points, or 1.13%, at 11,082.
Asian shares dipped on Monday while the dollar drifted higher at the start of a hectic week.
In Asia, MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.1% on Monday, after tumbling 2.6% last week – the biggest fall since late September. Japan’s Nikkei dipped 0.5%, while South Korea dropped 0.7%.
Brent crude futures climbed 83 cents, or 1.1%, to $76.93 a barrel.
INDIAN MARKETS
India’s foreign exchange reserves rose for the fourth consecutive week ending on December 2. During the week ending, forex reserves rose by $11.02 billion to $561.16 billion, according to the Weekly Statistical Supplement released by the Reserve Bank of India (RBI).
Sensex fell 389 points to 62,181, while the Nifty50 declined 113 points to 18,497 and formed a bearish Engulfing candle on the daily charts, indicating further weakness in the market.
Foreign institutional investors (FIIs) net sold shares worth Rs 158.01 crore, while domestic institutional investors (DIIs) net bought shares worth Rs 501.63 crore
TODAY’S VIEW
The market is expected to open Gap down as trends in the SGX Nifty indicate a negative opening for the broader index in India with a loss of 69 points.
As per the pivot charts, the key support level for the Nifty is placed at 18,426, followed by 18,366 & 18,269. If the index moves up, the key resistance levels to watch out for are 18,621 followed by 18,681 and 18,778.