MARKET VIEW
GLOBAL MARKETS
Dow Jones Industrial Average rose 37.63 points, or 0.11 percent, to 33,241.56, the S&P 500 lost 15.57 points, or 0.40 percent, to 3,829.25 and the Nasdaq Composite dropped 144.64 points, or 1.38 percent, to 10,353.23.
Asian markets are trading lower in early trade on Wednesday with Kospi slipped over 2 percent, while Nikkei down nearly 1 percent. Straits Times is also trading in the red.
Oil prices were steady after hitting a three-week high. Brent crude was up 41 cents, or 0.5 percent, at $84.33 a barrel.
INDIAN MARKETS
Sensex rallied 361 points to 60,927, while the Nifty50 gained 118 points to 18,132 and formed a bullish candle on the daily charts with a long lower shadow, indicating a positive trend. Banknifty gained 229 points to 42859 formed a doji candle with lower shadow.
The sectors which outperformed were Metal, PSUBank & Realty and the only sector which underperformed were FMCG.
Foreign institutional investors (FIIs) sold shares worth Rs 867.65 crore, while domestic institutional investors (DIIs) purchased shares worth Rs 621.81 crore.
TODAY’S VIEW
The market is expected to open in the red as trends in the SGX Nifty indicate a negative opening for the broader index in India with a loss of 83 points.
As per the pivot charts, the key support level for the Nifty is placed at 18,013, followed by 17,971 and 17,901. If the index moves up, the key resistance levels to watch out for would be 18,152, followed by 18,195 and 18,265.