The BSE Sensex plunged 656 points or 1.08 percent to close at 60,098.82, while the Nifty50 declined 175 points or 0.96 percent, to 17,938.40 and formed bearish candle on the daily charts. According to pivot charts, the key support levels for the Nifty are placed at 17,839.13, followed by 17,739.87. If the index moves up, the key resistance levels to watch out for are 18,083.43 and 18,228.46.US MarketsWall Street's main indices ended sharply lower on Wednesday, with the tech-heavy Nasdaq confirming it was in a correction, after a diverse set of corporate earnings and as investors continued to worry about higher US Treasury yields and the Federal Reserve tightening monetary policy.The Nasdaq ended down 10.7 percent from its November 19 closing record high, as stocks sold off into the market close. A correction is confirmed when an index closes 10 percent or more below its record closing level.The Dow Jones Industrial Average fell 339.82 points, or 0.96 percent, to 35,028.65, the S&P 500 lost 44.35 points, or 0.97 percent, to 4,532.76 and the Nasdaq Composite dropped 166.64 points, or 1.15 percent, to 14,340.26.Asian MarketsMarkets in Asia-Pacific were mixed on Thursday as China cut its key lending rates. Wall Street fell with the Nasdaq closing in the correction territory and the US yields retreating from their recent gains. Japan's Nikkei 225 pared earlier gains, edging up 0.1 percent, while the Topix was up 0.3 percent.SGX NiftyTrends on the SGX Nifty indicate a negative opening for the broader index in India with a loss of 76 points. The Nifty futures were trading around 17,901 levels on the Singaporean exchange.
The BSE Sensex plunged 656 points or 1.08 percent to close at 60,098.82, while the Nifty50 declined 175 points or 0.96 percent, to 17,938.40 and formed bearish candle on the daily charts. According to pivot charts, the key support levels for the Nifty are placed at 17,839.13, followed by 17,739.87. If the index moves up, the key resistance levels to watch out for are 18,083.43 and 18,228.46.US MarketsWall Street's main indices ended sharply lower on Wednesday, with the tech-heavy Nasdaq confirming it was in a correction, after a diverse set of corporate earnings and as investors continued to worry about higher US Treasury yields and the Federal Reserve tightening monetary policy.The Nasdaq ended down 10.7 percent from its November 19 closing record high, as stocks sold off into the market close. A correction is confirmed when an index closes 10 percent or more below its record closing level.The Dow Jones Industrial Average fell 339.82 points, or 0.96 percent, to 35,028.65, the S&P 500 lost 44.35 points, or 0.97 percent, to 4,532.76 and the Nasdaq Composite dropped 166.64 points, or 1.15 percent, to 14,340.26.Asian MarketsMarkets in Asia-Pacific were mixed on Thursday as China cut its key lending rates. Wall Street fell with the Nasdaq closing in the correction territory and the US yields retreating from their recent gains. Japan's Nikkei 225 pared earlier gains, edging up 0.1 percent, while the Topix was up 0.3 percent.SGX NiftyTrends on the SGX Nifty indicate a negative opening for the broader index in India with a loss of 76 points. The Nifty futures were trading around 17,901 levels on the Singaporean exchange.