MARKET VIEW
GLOBAL MARKETS
US indices gained more than 2 percent on Friday after December payrolls expanded more than expected. Dow Jones rose 700.53 points, or 2.13 percent, to 33,630.
S&P 500 gained 86.98 points, or 2.28 percent, at 3,895.08.
Nasdaq Composite added 264.05 points, or 2.56 percent, at 10,569.29.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.6 percent, with South Korean shares gaining 1.1 percent. Japan’s Nikkei trading almost flat, HangSang gained 1.63% now trading at 21332. Kospi gained 1.87% trading at 2332.
INDIAN MARKETS
Sensex declines 453 points to 59,900 and the Nifty50 dropped 133 points to 17,860. Banknifty dropped 420 points to 42189. The Nifty Midcap 100 and Smallcap 100 indices corrected eight-tenth of percent each.
Foreign institutional investors (FII) net sold shares worth Rs 2,902.46 crore, while domestic institutional investors (DII) net bought shares worth Rs 1,083.17 crore.
TODAY’S VIEW
The market is expected to open in the green as trends in the SGX Nifty indicate a gap-up opening for the broader index in India with a gain of 127 points.
As per the pivot charts, we have the key support level for the Nifty at 17,805, followed by 17,745, and 17,649. If the index moves up, the key resistance levels to watch out for are 17,997, followed by 18,056 and 18,153.