MARKET VIEW
GLOBAL MARKETS
Dow Jones fell 260.99 points, or 0.77 percent, to 33,717.
S&P 500 lost 52.79 points, or 1.30 percent, to 4,017.
Nasdaq Composite dropped 227.90 points, or 1.96 percent, to 11,394.
Australia’s S&P/ASX 200 was up 0.33 percent as investors await retail sales data for December. Japan’s Nikkei 225 traded flat above the flatline and the Topix loose 0.04 percent. South Korean benchmark Kospi dipped 0.4 percent. Hang sang down by 0.85 percent.
Oil prices dipped 2 percent on Monday, Brent futures for March delivery fell $1.76, or 2.03 percent, to $84.90 a barrel.
INDIAN MARKETS
Sensex climbed 170 points to 59,500, while the Nifty50 rose 45 points to 17,649 on Monday and formed a bullish candle on the daily charts with upper and lower shadows indicating high volatility in the market. Banknifty climbed 42 points to 40387, formed a bullish candle.
Foreign institutional investors (FII) have net-sold shares worth Rs 6,792.80 crore, the highest ever outflow in a single day since March 8, 2022, whereas domestic institutional investors (DII) have net-bought shares worth Rs 5,512.63 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 80 points.
As per the pivot charts, the key support level for the Nifty is seen at 17,472, followed by 17,400, and 17,284. If the index moves up, the key resistance levels to watch out for are 17,704, followed by 17,776 and 17,892.