MARKET VIEW
GLOBAL MARKETS
US Markets closed lower on Monday. Dow Jones fell 162.92 points, or 0.49 percent, to 32,757.54.
S&P 500 lost 34.7 points, or 0.90 percent, to 3,817.66.
Nasdaq Composite dropped 159.38 points, or 1.49 percent, to 10,546.03.
Markets in the Asia-Pacific traded mostly lower as the People’s Bank of China kept its key lending rates steady. Hong Kong’s Hang Seng index fell 1.5 percent. Nikkei 225 in Japan rose 0.3 percent, and Topix gained 0.38 percent as investors await the Bank of Japan (BOJ)’s monetary policy announcement.
Oil prices rose on Monday, as optimism around China relaxing its COVID-19 restrictions outweighed fears of a global recession that would weigh on energy demand. Brent crude trading at 80.65$ per barrel.
INDIAN MARKETS
Sensex rallied 468 points to 61,806, while the Nifty50 rose 151 points to 18,420 and formed a bullish candle on the daily charts. Banknifty rose 194 points closed at 43413, formed a doji candle with lower wick.
Foreign institutional investors (FIIs) have net-sold shares worth Rs 538.10 crore, while domestic institutional investors (DIIs) net-purchased shares worth Rs 687.38 crore.
TODAY’S VIEW
The market is expected to open in the red on December 20, as trends in the SGX Nifty indicate a negative opening for the broader index in India with a loss of 39 points.
As per the pivot charts, the key support level for the Nifty is placed at 18,294, followed by 18,250 and 18,178. If the index moves up, the key resistance levels to watch out for are 18,437 followed by 18,481 and 18,553.