MARKET VIEW
GLOBAL MARKETS
Dow Jones Industrial Average fell 73.55 points, or 0.22 percent, closed at 33,147.
S&P 500 lost 9.78 points, or 0.25 percent, closed at 3,839.
Nasdaq Composite dropped 11.61 points, or 0.11 percent, closed at 10,466.
Brent crude on Friday, settled at $85.91 a barrel, up nearly 3 percent to $2.45 per barrel.
INDIAN MARKET
India’s forex reserves dropped by $691 million to $562.808 billion as of December 23, making it the second consecutive week of decline in the kitty, according to the RBI data.
Sensex fell 293 points to 60,841, while the Nifty50 declined 86 points to 18,105, and formed a bearish candle resembling a Dark Cloud Cover on the daily charts, indicating more weakness going ahead. Banknifty declined 266 points closed at 42986.
Foreign institutional investors (FII) net sold shares worth Rs 2,950.89 crore, while domestic institutional investors (DII) net bought shares worth Rs 2,266.20 crore.
TODAY’S VIEW
The market is expected to open in the lower as trends in the SGX Nifty indicate a muted opening for the broader index in India with a loss of 55 points.
As per the pivot charts, the key support level for the Nifty is placed at 18,080, followed by 18,036, and 17,965. If the index moves up, the key resistance levels to watch out for are 18,221, followed by 18,264 and 18,335.