MARKET VIEW
GLOBAL MARKETS
Wall Street’s main indexes ended weaker on Wednesday, with the Nasdaq hitting a 2022 closing low.
Dow Jones fell 365.85 points, or 1.1 percent, to 32,875.71.
S&P 500 lost 46.03 points, or 1.20 percent, at 3,783.22.
Nasdaq Composite dropped 139.94 points, or 1.35 percent, to 10,213.29.
Asian Markets were trading lower in the early trade on Thursday with Nikkei, Kospi, Taiwan Weighted down 1 percent each, while Straits Times down 0.5 percent.
Oil prices settled lower on Wednesday, Brent crude futures fell $1.07, or 1.3 percent, to settle at $83.26 a barrel.
INDIAN MARKETS
Sensex declined 17 points to 60,910, while the Nifty50 fell 10 points to 18,122 and formed a bullish candle on the daily charts as the closing was higher than the opening levels. Banknifty fell 32 points to 42828.
The sectors which outperformed were Auto, Media & Realty and sectors that underperfomed were Pharma, Metal, IT.
Foreign institutional investors (FIIs) have net-offloaded shares worth Rs 872.59 crore, while domestic institutional investors (DIIs) net-purchased shares worth Rs 372.87 crore.
TODAY’S VIEW
The market is expected to open Gap down as trends in the SGX Nifty indicate a weak start for the broader index in India with a loss of 82 points.
As per the pivot charts, the key support level for the Nifty is placed at 18,081, followed by 18,056 & 18,016. If the index moves up, the key resistance levels to watch out for are 18,161 followed by 18,186 and 18,226.