Indian equities markets are likely to open lower on Monday, tracking
negative leads from fellow Asian peers. The SGX Nifty, which was trading at
8,925, down by 45.50 points or 0.51 per cent, also signalled a negative
opening.
The 8,970-9,000 zone is likely to remain a key resistance area in the short term for Nifty50. On the downside, immediate support is placed around the level of 8,880 and if this support is breached next major support is placed around the level of 8,820.
Back home, Nifty hit fresh 52-week high last Thursday (Feb. 23), but it closed off day’s high as profit booking emerged at higher levels. Indian markets started the session on a positive note and the momentum remained in favour of the bulls for the first half of the trading session, but in the second half, some volatility was witnessed and markets ended the session with marginal gains.
The Dow Industrial and S&P 500 finished at record levels on Friday as the Dow continued its streak of closing highs and daily gains. The Dow Jones Industrial Average rose 11.44 points to finish at 20,821.76. The S&P 500 Index closed up 3.53 points at a record 2,367.34. The Nasdaq Composite Index finished up 9.80 points at 5,845.31, just shy of a record.
On Monday, Asian shares started the new trading week on a negative note. Japan’s Index Nikkei 225 fell over 1 per cent as the yen strengthened for the fourth session. Hang Seng and Shanghai Composite lost 0.27 and 0.17 per cent, respectively.
The 8,970-9,000 zone is likely to remain a key resistance area in the short term for Nifty50. On the downside, immediate support is placed around the level of 8,880 and if this support is breached next major support is placed around the level of 8,820.
Back home, Nifty hit fresh 52-week high last Thursday (Feb. 23), but it closed off day’s high as profit booking emerged at higher levels. Indian markets started the session on a positive note and the momentum remained in favour of the bulls for the first half of the trading session, but in the second half, some volatility was witnessed and markets ended the session with marginal gains.
The Dow Industrial and S&P 500 finished at record levels on Friday as the Dow continued its streak of closing highs and daily gains. The Dow Jones Industrial Average rose 11.44 points to finish at 20,821.76. The S&P 500 Index closed up 3.53 points at a record 2,367.34. The Nasdaq Composite Index finished up 9.80 points at 5,845.31, just shy of a record.
On Monday, Asian shares started the new trading week on a negative note. Japan’s Index Nikkei 225 fell over 1 per cent as the yen strengthened for the fourth session. Hang Seng and Shanghai Composite lost 0.27 and 0.17 per cent, respectively.
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