MARKET VIEW
GLOBAL MARKETS
Dow Jones fell 39.02 points, or 0.11%, to 34,054.
S&P 500 gained 60.55 points, or 1.47%, to 4,179.
Nasdaq gained 384.50 points, or 3.25%, to 12,200.82.
Nikkei 225 in Japan rose 0.64% and Topix fell 0.41%. In South Korea, Kospi fell 0.14%. In Australia,S&P/ASX 200 rose 0.38% as investors digest new housing loan commitments for December that fell 4.3%.
Oil prices made modest gains in early trade on Friday, Brent crude futures rose 16 cents, or 0.2%, to $82.33 a barrel.
INDIAN MARKETS
Sensex settled 224 points higher at 59,932, while the Nifty50 oscillated within the previous day’s range and closed 6 points lower at 17,610, forming bullish candle on the daily charts with upper & lower wicks as the closing was higher than opening levels. Banknifty was strong yesterday with positive gains of 156 points, closed at 40669.
Foreign institutional investors (FII) net-sold shares worth Rs 3,065.35 crore, while domestic institutional investors (DII) purchased shares worth Rs 2,371.36 crore.
TODAY’S VIEW
The market is expected to open in the green on as trends in the SGX Nifty indicate a positive opening for the broader index in India with a gain of 79 points.
As per the pivot charts, we have the key support level for the Nifty at 17,491, followed by 17,442, and 17,362. If the index moves up, the key resistance levels to watch out for are 17,650, followed by 17,699 and 17,778.