MARKET VIEW
GLOBAL MARKETS
Dow Jones rose 186.45 points, or 0.56 percent, to 33,704.
S&P 500 gained 27.16 points, or 0.70 percent, at 3,919.
Nasdaq Composite added 106.98 points, or 1.01 percent, at 10,742.
Asian market traded in green Nikkei up by 0.47%, HangSang up by 1% and Kospi is almost flat positive by 0.06%.
INDIAN MARKET
Sensex plunged 632 points to 60,115, while the Nifty50 declined 187 points to 17,914 and formed a long bearish candle which seems to resemble a bearish engulfing kind of pattern on the daily charts. Banknifty declined 568 points to 42014.
The only sector which outperformed yesterday were Auto and The sectors which underperformed were PSUBank, PVTBank and Financial services.
Foreign institutional investors (FII) net-sold shares worth Rs 2,109.34 crore, while domestic institutional investors (DII) net-bought shares worth Rs 1,806.62 crore.
TODAY’S VIEW
The market is expected to open in the flat today as trends in the SGX Nifty indicate a muted start for the broader index in India with a gain of 20 points.
As per the pivot charts, we have the key support level for the Nifty at 17,862, followed by 17,798, and 17,694. If the index moves up, the key resistance levels to watch out for are 18,070, followed by 18,134 and 18,238.