The Indian stock market is expected to open in the red as trends on SGX Nifty indicate a gap-down opening for the index in India with a 129-points loss. The BSE Sensex corrected 125.27 points to close at 59,015.89, while the Nifty50 fell 44.30 points to 17,585.20 and formed a bearish candle on the daily charts. However, the index gained over a percent during the week and saw bullish candle formation on the weekly scale.According to pivot charts, the key support levels for the Nifty are placed at 17,484.3, followed by 17,383.4. If the index moves up, the key resistance levels to watch out for are 17,739.5 and 17,893.8.US MarketsUS stocks ended sharply lower in a broad sell-off on Friday, ending a week buffeted by strong economic data, corporate tax hike worries, the Delta COVID variant, and possible shifts in the US Federal Reserve's timeline for tapering asset purchases.The Dow Jones Industrial Average fell 166.44 points, or 0.48%, to 34,584.88; the S&P 500 lost 40.76 points, or 0.91%, at 4,432.99; and the Nasdaq Composite dropped 137.96 points, or 0.91%, to 15,043.97.Asian MarketsAsian shares eased and the dollar held firm on Monday ahead of a week graced with no less than a dozen central bank meetings, highlighted by the Federal Reserve which is likely to take another step toward tapering.Early Monday, MSCI's broadest index of Asia-Pacific shares outside Japan dipped another 0.2%, after shedding 2.5% last week. Japan's Nikkei was shut and could do with consolidating after surging to 30-year highs on hopes a new Prime Minister will bring more stimulus and policy change.SGX NiftyTrends on SGX Nifty indicate a gap-down opening for the index in India with a 129-points loss. The Nifty futures were trading at 17,472 on the Singaporean Exchange around 07:30 hours IST.
The Indian stock market is expected to open in the red as trends on SGX Nifty indicate a gap-down opening for the index in India with a 129-points loss. The BSE Sensex corrected 125.27 points to close at 59,015.89, while the Nifty50 fell 44.30 points to 17,585.20 and formed a bearish candle on the daily charts. However, the index gained over a percent during the week and saw bullish candle formation on the weekly scale.According to pivot charts, the key support levels for the Nifty are placed at 17,484.3, followed by 17,383.4. If the index moves up, the key resistance levels to watch out for are 17,739.5 and 17,893.8.US MarketsUS stocks ended sharply lower in a broad sell-off on Friday, ending a week buffeted by strong economic data, corporate tax hike worries, the Delta COVID variant, and possible shifts in the US Federal Reserve's timeline for tapering asset purchases.The Dow Jones Industrial Average fell 166.44 points, or 0.48%, to 34,584.88; the S&P 500 lost 40.76 points, or 0.91%, at 4,432.99; and the Nasdaq Composite dropped 137.96 points, or 0.91%, to 15,043.97.Asian MarketsAsian shares eased and the dollar held firm on Monday ahead of a week graced with no less than a dozen central bank meetings, highlighted by the Federal Reserve which is likely to take another step toward tapering.Early Monday, MSCI's broadest index of Asia-Pacific shares outside Japan dipped another 0.2%, after shedding 2.5% last week. Japan's Nikkei was shut and could do with consolidating after surging to 30-year highs on hopes a new Prime Minister will bring more stimulus and policy change.SGX NiftyTrends on SGX Nifty indicate a gap-down opening for the index in India with a 129-points loss. The Nifty futures were trading at 17,472 on the Singaporean Exchange around 07:30 hours IST.