The market is expected to open in the red as trends in the SGX Nifty indicate a gap-down opening for the broader index in India with a loss of 204 points. The BSE Sensex tanked 867 points to 54,836 and the Nifty50 fell 271 points to 16,411, while the Nifty Midcap 100 and Smallcap 100 indices shed 1.8 percent and 2.5 percent at the close on Friday.As per the pivot charts, the key support level for the Nifty is placed at 16,340, followed by 16,269. If the index moves up, the key resistance levels to watch out for are 16,483 and 16,555.US MarketsWall Street's main indexes extended losses on Friday as investors worried that the Federal Reserve will need to be more aggressive than expected in raising interest rates to combat inflation.The tech-heavy Nasdaq registered its lowest close since 2020, notching a fifth straight weekly loss, its longest losing streak since the fourth quarter of 2012. The S&P 500 also posted its fifth straight weekly loss, its longest string of weekly losses since the second quarter of 2011.The Dow Jones Industrial Average fell 98.6 points, or 0.3 percent, to 32,899.37, the S&P 500 lost 23.53 points, or 0.57 percent, to 4,123.34 and the Nasdaq Composite dropped 173.03 points, or 1.4 percent, to 12,144.66.Asian MarketsAsian markets got off to a shaky start on Monday as US stock futures took an early skid on rate worries, while a tightening lockdown in Shanghai stoked concerns about global economic growth and possible recession. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.3%, and Japan's Nikkei 1.2 percent.
The market is expected to open in the red as trends in the SGX Nifty indicate a gap-down opening for the broader index in India with a loss of 204 points. The BSE Sensex tanked 867 points to 54,836 and the Nifty50 fell 271 points to 16,411, while the Nifty Midcap 100 and Smallcap 100 indices shed 1.8 percent and 2.5 percent at the close on Friday.As per the pivot charts, the key support level for the Nifty is placed at 16,340, followed by 16,269. If the index moves up, the key resistance levels to watch out for are 16,483 and 16,555.US MarketsWall Street's main indexes extended losses on Friday as investors worried that the Federal Reserve will need to be more aggressive than expected in raising interest rates to combat inflation.The tech-heavy Nasdaq registered its lowest close since 2020, notching a fifth straight weekly loss, its longest losing streak since the fourth quarter of 2012. The S&P 500 also posted its fifth straight weekly loss, its longest string of weekly losses since the second quarter of 2011.The Dow Jones Industrial Average fell 98.6 points, or 0.3 percent, to 32,899.37, the S&P 500 lost 23.53 points, or 0.57 percent, to 4,123.34 and the Nasdaq Composite dropped 173.03 points, or 1.4 percent, to 12,144.66.Asian MarketsAsian markets got off to a shaky start on Monday as US stock futures took an early skid on rate worries, while a tightening lockdown in Shanghai stoked concerns about global economic growth and possible recession. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.3%, and Japan's Nikkei 1.2 percent.