Market Live Updates Today: Trends on the SGX Nifty indicate a gap-down opening for the broader index in India with a loss of 165 points
image for illustrative purpose
The market is expected to open in the red as trends on the SGX Nifty indicate a gap-down opening for the broader index with a loss of 165 points.
The Sensex dropped more than 700 points to 57,197, while the Nifty plunged 221 points to 17,172 to form a bearish candle on the daily charts, indicating a trend favouring bears. For the week, the Nifty saw long-legged Doji pattern on the weekly scale as the index lost nearly 2 percent.
As per the pivot charts, the key support for the Nifty is at 17,109, followed by 17,046. If the index moves up, the key resistance levels to watch out for are 17,275 and 17,378.
US Markets
Wall Street tumbled more than 2.5 percent on Friday, ensuring the three main benchmarks ended in negative territory for the week, as surprise earnings news and increased certainty around aggressive near-term interest rate rises took its toll on investors.
The Dow Jones Industrial Average fell 981.36 points, or 2.82 percent, to 33,811.4, the S&P 500 lost 121.88 points, or 2.77 percent, to 4,271.78 and the Nasdaq Composite dropped 335.36 points, or 2.55 percent, to 12,839.29.
Asian Markets
Shares in Asia-Pacific fell on Monday following a sell-off on Wall Street on Friday. Japan's Nikkei 225′s dropped 2.08 percent in early trade on Monday, while the Topix declined 1.79 percent. In South Korea, the Kospi slid 1.25 percent and the Kosdaq was down 1.69 percent.
Live Updates
- 25 April 2022 9:16 AM IST
FII and DII data
Foreign institutional investors (FIIs) have net sold shares worth Rs 2,461.72 crore, while domestic institutional investors (DIIs) net bought shares worth Rs 1,602.35 crore on April 22, NSE provisional data shows.
- 25 April 2022 9:15 AM IST
FPIs withdraw Rs 12,300 crore from equities in April on US Fed rate hike fears
Fears of an aggressive rate hike by the US Fed continue to dent investor sentiments with foreign investors pulling out nearly Rs 12,300 crore from the Indian equity market so far this month.
Going forward, foreign flows into Indian equities could continue to be under pressure due to an imminent rate hike by the US Fed, uncertainty surrounding the Russia-Ukraine war, volatile crude prices, high domestic inflation numbers and weak quarterly results, experts said.
Foreign portfolio investors (FPIs) remained net sellers for six months to March 2022, withdrawing a massive net amount of Rs 1.48 lakh crore from equities. These were largely on the back of anticipation of a rate hike by the US Federal Reserve and due to the deteriorating geopolitical environment following Russia's invasion of Ukraine.
