Market Live Updates Today: Trends in the SGX Nifty indicate a gap-down opening for the broader index in India with a loss of 215 points on Monday

The BSE Sensex rose 59 points to 58,834, while the Nifty was up 36 points at 17,559 and formed a bearish candle on the daily charts, as the closing was lower than opening levels.

As per the pivot charts, the key support for the Nifty is at 17,490, followed by 17,421. If the index moves up, the key resistance levels to watch out for are 17,657 and 17,754.

Stocks pummelled Friday after Federal Reserve Chair Jerome Powell said in his Jackson Hole speech the central bank won't back off in its fight against rapid inflation.

The Dow Jones Industrial Average dropped 1,008.38 points, or 3.03 percent, to 32,283.40, with losses accelerating into the close. The S&P 500 fell 3.37 percent to 4,057.66, and the Nasdaq Composite slid 3.94 percent to 12,141.71.

Asian Markets

Asian shares slid on Monday as the mounting risk of more aggressive rate hikes in the United States and Europe shoved bond yields higher and tested equity and earnings valuations.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.7 percent. Japan's Nikkei dropped 2.3 percent, while South Korea shed 2.3 percent.