By Administrator_ India
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.
The Dow Jones Industrial Average fell 89.28 points, or 0.29%, to 31,008.69, the S&P 500 lost 25.07 points, or 0.66%, to 3,799.61 and the Nasdaq Composite dropped 165.54 points, or 1.25%, to 13,036.43.
Asian stocks were mostly lower on Tuesday, tracking Wall Street declines as political turmoil in Washington and rising coronavirus cases worldwide weighed on sentiment ahead of the start of the quarterly earnings season.
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%.
Trends on SGX Nifty indicate a negative opening for the index in India with a 23 points loss. The Nifty futures were trading at 14,473 on the Singaporean Exchange around 07:30 hours IST.
- NSE launches derivatives on Nifty Financial Services Index
The National Stock Exchange on Monday launched derivatives on the Nifty Financial Services Index, which will give more flexibility to institutional as well as retail investors to manage their hedge. This is the first time that the exchange has made available weekly futures for stock index derivatives.
The index consists of 20 stocks and is designed to reflect the behaviour and performance of the Indian financial market, which includes banks, financial institutions, housing finance, insurance companies and other financial services companies.