GIFT Nifty down 25 points; here's what changed for market while you were sleeping
«The market has been witnessing pressure on account of weak global cues especially because of the faltering of the Chinese economy and Fitch's warning to downgrade US mid sized banks. We expect this weakness to persist in the market in the near term in the absence of any positive trigger,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal Financial Services. Option data suggests a broader trading range in between 19000 to 19800 zones while an immediate trading range in between 19200 to 19600 zones. Here's breaking down the pre-market actions:STATE OF THE MARKETSGIFT Nifty (Earlier SGX Nifty) signals a negative startGIFT Nifty on the NSE IX traded 23 points, or 0.12 per cent, lower at 19,389, signaling that Dalal Street was headed for negative start on Thursday.
Tech View: Currently, the strong cluster resistance is placed around 19550-19600 levels (down sloping trend line, daily 10/20 day EMA) and one may possibly expect weakness from the highs for this week. Immediate support is placed around 19250-19300 levels. India VIX: India VIX, which is a measure of the fear in the markets, rose 1.08% to settle at 12.12 levels.Us stocks dipWall Street ended lower on Wednesday after the Federal Reserve's minutes showed central bank officials were divided over the need for more interest rate hikes at their last meeting.
S&P 500 dips 0.76%, Nasdaq down 1.15%, Dow falls 0.52%Asian shares declineShares in Asia fell Thursday after a selloff in US stocks and bonds as investors digested hawkish signals from the Federal Reserve and further signs of stress in China.
S&P 500 futures fell 0.1% as of 9:28 a.m. Tokyo time. The S&P 500 fell 0.8% Nasdaq 100 futures fell 0.2%. The Nasdaq 100 fell 1.1% Hang Seng futures fell 1.3% Read more on economictimes.indiatimes.com
