Market Live Updates Today: Trends on SGX Nifty indicate a negative opening for the index in India with a 23 points loss

The Indian stock market is expected to open in the red as trends on SGX Nifty indicate a negative opening for the index in India with a 23 points loss.

The BSE Sensex closed above the psychological level of 49,000, rising 486.81 points or 1 percent to 49,269.32 on January 11 while the Nifty50 climbed 137.50 points to 14,484.80. According to pivot charts, the key support levels for the Nifty are placed at 14,412.53, followed by 14,340.27. If the index moves up, the key resistance levels to watch out for are 14,527.63 and 14,570.47.

Wall Street's main indexes closed lower on Monday as investors took some profits after last weeks' records while they waited for earnings season to begin and eyed events in Washington with trepidation.

Japan's Nikkei slipped 0.48%, South Korea's KOSPI fell 0.91% and Hong Kong's Hang Seng index futures lost 0.54%. Defying the broader selloff, Australia's S&P/ASX 200 rose 0.24%.