MARKET VIEW
GLOBAL MARKETS
Dow Jones rose 183.56 points, or 0.55 percent, to close at 33,781.48.
S&P 500 gained 29.59 points, or 0.75 percent, to finish at 3,963.51.
Nasdaq Composite added 123.45 points, or 1.13 percent, at 11,082.00.
Asian markets have opened in the green today. Japanese “Nikkei’ is up by over 340 points in early trade. Asian indices have rebounded with the US cues.
Chinese stocks are seeing global ETF flows as the reopening has sent confidence in global investors, with valuations currently being cheapest in over 2 years.
INDIAN MARKETS
Sensex gained 160 points to 62,571, while the Nifty50 gained 49 points to 18,609 and formed a bullish candle on the daily charts, taking major support at 18,500. Banknifty rallied and gained 498 points closed at 43597.
Foreign institutional investors (FIIs) have net sold shares worth Rs 1,131.67 crore, while domestic institutional investors (DIIs) net bought shares worth Rs 772.29 crore
TODAY’S VIEW
The market is likely to open higher as trends in the SGX Nifty indicate a positive start for the broader index in India with a gain of 63 points today.
As per the pivot charts, the key support level for the Nifty is placed at 18,557, followed by 18,536 and 18,502. If the index moves up, the key resistance levels to watch out for are 18,624, followed by 18,645 and 18,678.