MARKET VIEW
GLOBAL MARKETS
Dow jones rose 298 points or 0.8 percent, to 33,973.
S&P 500 gained 50.36 points, or 1.28 percent, to 3,969.
Nasdaq Composite added 189.04 points, or 1.76 percent, to 10,931.
Australia’s S&P/ASX 200 traded up 0.59 percent in its first hour of trade. Nikkei 225 rose 0.22 percent.Topix climbed 0.21 percent. Similarly, Kospi advanced 0.58 percent and Kosdaq added 0.53 percent.
Oil prices climbed 3 percent to a one-week high on Wednesday as hopes for an improved global economic outlook and concern over the impact of sanctions on Russian crude output outweighed a massive surprise build in US crude stocks.
INDIAN MARKETS
Sensex was down 10 points to 60,105, while the Nifty50 fell 18 points to 17,896 and formed a small-bodied bearish candle. Banknifty gained 218 points to 42232.
Foreign institutional investors (FII) have net-sold shares worth Rs 3,208.15 crore, but domestic institutional investors (DII) have managed to offset the FII outflow to a major extent by net-buying shares worth Rs 2,430.62 crore.
TODAY’S VIEW
The market is expected to open in the green as trends in the SGX Nifty indicate a positive opening for the broader index in India with a gain of 46 points today.
As per the pivot charts, the key support level for the Nifty is seen at 17,841, followed by 17,805, and 17,747. If the index moves up, the key resistance levels to watch out for are 17,957, followed by 17,993, and 18,051.