Trends on SGX Nifty indicate a cautious opening for the index in India with a 36 points loss

The Indian stock market is expected to open in the red as trends on SGX Nifty indicate a cautious opening for the index in India with a 36 points loss.

Sensex closed 14 points, or 0.03 percent, lower at 50,637.53 on May 25 while the Nifty settled with a gain of 11 points, or 0.07 percent, at 15,208.45.

According to pivot charts, the key support levels for the Nifty are placed at 15,150, followed by 15,091.5. If the index moves up, the key resistance levels to watch out for are 15,280.4 and 15,352.3.

US Markets

U.S. stocks closed slightly lower on Tuesday, and each of Wall Street's main indexes failed to stray far from the unchanged mark following a rally in the prior session as investors continue to try and assess the route of inflation.

The Dow Jones Industrial Average fell 81.52 points, or 0.24%, to 34,312.46, the S&P 500 lost 8.92 points, or 0.21%, to 4,188.13 and the Nasdaq Composite dropped 4.00 points, or 0.03%, to 13,657.17.

Asian Markets

Asian marksts were mixed on Wednesday morning trade. Nikkei 225 in Japan was fractionally lower in early trade while the Topix index sat below the flatline. South Korea's Kospi advanced 0.13%. The S&P/ASX 200 in Australia edged 0.35% lower.

SGX Nifty

Trends on SGX Nifty indicate a cautious opening for the index in India with a 36 points loss. The Nifty futures were trading at 15,213 on the Singaporean Exchange around 07:30 hours IST.

Oil edges up as rising demand faces Iran supply worries

Oil prices moved a shade higher on Tuesday as rising demand from the approach of the Northern Hemisphere's summer driving season and lifting of coronavirus restrictions mixed with worries that Iran's possible return to the market will cause a supply glut.

Brent futures rose 19 cents, or 0.3%, to settle at $68.65 a barrel, while U.S. West Texas Intermediate (WTI) crude rose 2 cents to settle at $66.07.

Sebi to empanel auditors for forensic audits of listed firms

Markets regulator Sebi is looking to appoint auditors for conducting forensic audits of financial statements of listed companies as part of efforts to curb frauds. In recent months, Sebi has ordered forensic audit of certain companies.

"Application shall not be considered where disciplinary action or proceedings have been initiated against the applicant, its partners or directors, by any regulatory body or court of law," Sebi noted. Besides, the applicant should have employed at least 20 persons (full time) having relevant qualification, experience and expertise in the field of forensic audit.

RBI Governor Shaktikanta Das tells private bank chiefs to boost credit flow

Reserve Bank of India (RBI) Governor Shaktikanta Das on May 25 told chiefs of select private banks to boost credit flows to retail and business borrowers. He also called on them to implement the measures announced by the central bank on May 5.

"In his opening remarks, the governor recognised the crucial role played by the private sector banks as important stakeholders in the Indian banking sector. He impressed upon the banks to quickly and swiftly implement the measures announced by RBI on May 5, 2021, in right earnest," the RBI said in a statement on its website.

FII and DII data

Foreign institutional investors (FIIs) net bought shares worth Rs 959.77 crore, while domestic institutional investors (DIIs) net sold shares worth Rs 563.59 crore in the Indian equity market on May 25, as per provisional data available on the NSE.