MARKET VIEW
GLOBAL MARKETS
Dow Jones fell 127.93 points, or 0.38 percent, to 33,926.
S&P 500 lost 43.28 points, or 1.04 percent, to 4,136.
Nasdaq dropped 193.86 points, or 1.59 percent, to 12,006.96.
Asian shares eased on Monday after a run of upbeat economic data from the US and globally lessened the risk of recession, but also suggested interest rates would have to rise further and stay up for longer.
MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.7 percent, with South Korea down 1 percent. Japan’s Nikkei added 1.1 percent, encouraged by hopes the BOJ would keep policy easy.
INDIAN MARKET
Sensex rallied 910 points, or 1.52 percent, to 60,842, while the Nifty50 jumped 244 points, or 1.4 percent, to 17,854 and formed a bullish candle on the daily charts. Banknifty gained 830 points, closed at 41499.70 formed a bullish candle and traded near the resistance level of 41600.
Foreign institutional investors (FII) sold shares worth Rs 932.44 crore, while domestic institutional investors (DII) purchased shares worth Rs 1,264.74 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 33 points.
As per the pivot charts, we have the key support level for the Nifty at 17,660, followed by 17,593, and 17,483. If the index moves up, the key resistance levels to watch out for are 17,879, followed by 17,946 and 18,056.