Market Live Updates Today: Trends on SGX Nifty indicate a flat to positive start for the broader index in India

The Indian stock market is expected to open in the red amid weak global markets. However, SGX Nifty indicates a flat to positive opening for the index in India with a 37 points gain.

According to pivot charts, the key support levels for the Nifty are placed at 16,889.6, followed by 16,752.8. If the index moves up, the key resistance levels to watch out for are 17,259.3 and 17,492.2.

US Markets

US stocks closed lower on Friday, with the Dow and S&P 500 suffering their biggest one-day percentage drops in months, and pandemic-hit sectors that had gained from a reopening falling sharply after a new coronavirus mutation was found.

The Dow Jones Industrial Average fell 905.04 points, or 2.53%, to 34,899.34; the S&P 500 lost 106.84 points, or 2.27%, to 4,594.62; and the Nasdaq Composite dropped 353.57 points, or 2.23%, to 15,491.66.

Asian Markets

Asian markets are trading lower with Straits Times, Taiwan Weighted down over 1 percent each, while Shanghai Composite, Kospi and Hang Seng down 0.5 percent each.

SGX Nifty

Trends on SGX Nifty indicate a flat to positive start for the broader index in India, with a gain of 37 points or 0.32 percent. The Nifty futures were trading around 17,080.50 level on the Singaporean Exchange.