The market is expected to open on a cautious note as trends in SGX Nifty indicate a flat opening for the broader index in India with a gain of 5 points. The BSE Sensex climbed 1,534 points to 54,326, and the Nifty50 rose 457 points to 16,266 and formed a bullish candle on the daily charts. Experts expect the index to face resistance at around 16,400 mark, crossing which can take the index beyond the 16,600 mark, they feel.As per the pivot charts, the key support level for the Nifty is placed at 16,086, followed by 15,905. If the index moves up, the key resistance levels to watch out for are 16,365 and 16,463.US MarketsWall Street ended mixed on Friday after a volatile session that saw Tesla slump and other growth stocks also lose ground. The S&P 500 and the Nasdaq logged their seventh straight week of losses, their longest losing streak since the end of the dotcom bubble in 2001.The S&P 500 edged up 0.01 percent to end the session at 3,901.36 points. The Nasdaq declined 0.30 percent to 11,354.62 points, while the Dow Jones Industrial Average rose 0.03 percent to 31,261.90 points. For the week, the S&P 500 fell 3.0 percent, the Dow lost 2.9 percent and the Nasdaq declined 3.8 percent.Asian MarketsAsian stocks faced an uncertain start on Monday as persistent inflation fears and the prospect of rising interest rates dogged the global economic outlook, which remains mired in negative sentiment.MSCI's broadest index of Asia-Pacific shares outside Japan was 0.04 percent higher, after US stocks ended the previous session with negligible gains for the day. The index is down 3.6 percent so far this month. In early trade, Australian shares gained 0.2% while Japan's Nikkei stock index was 0.85 percent higher.
The market is expected to open on a cautious note as trends in SGX Nifty indicate a flat opening for the broader index in India with a gain of 5 points. The BSE Sensex climbed 1,534 points to 54,326, and the Nifty50 rose 457 points to 16,266 and formed a bullish candle on the daily charts. Experts expect the index to face resistance at around 16,400 mark, crossing which can take the index beyond the 16,600 mark, they feel.As per the pivot charts, the key support level for the Nifty is placed at 16,086, followed by 15,905. If the index moves up, the key resistance levels to watch out for are 16,365 and 16,463.US MarketsWall Street ended mixed on Friday after a volatile session that saw Tesla slump and other growth stocks also lose ground. The S&P 500 and the Nasdaq logged their seventh straight week of losses, their longest losing streak since the end of the dotcom bubble in 2001.The S&P 500 edged up 0.01 percent to end the session at 3,901.36 points. The Nasdaq declined 0.30 percent to 11,354.62 points, while the Dow Jones Industrial Average rose 0.03 percent to 31,261.90 points. For the week, the S&P 500 fell 3.0 percent, the Dow lost 2.9 percent and the Nasdaq declined 3.8 percent.Asian MarketsAsian stocks faced an uncertain start on Monday as persistent inflation fears and the prospect of rising interest rates dogged the global economic outlook, which remains mired in negative sentiment.MSCI's broadest index of Asia-Pacific shares outside Japan was 0.04 percent higher, after US stocks ended the previous session with negligible gains for the day. The index is down 3.6 percent so far this month. In early trade, Australian shares gained 0.2% while Japan's Nikkei stock index was 0.85 percent higher.