Top things to be noted before the market opens

SGX Nifty indicates a flat opening for the index in India with a loss of 7 points

The domestic share market is expected to open on a cautious note as trends on SGX Nifty indicates a flat opening for the index in India with a loss of 7 points. The BSE Sensex rose 145 points to 55,582, while the Nifty50 climbed 33 points to 16,563.

According to pivot charts, the key levels for the Nifty are placed at 16,499 followed by 16,435 and if the index surges, the key resistance levels to watch out for are 16,608 and 16,653.

Wall Street's benchmarks fell on Monday as glum data from China sparked fears of slowing global growth, amidst re-emergence of Covid-19 cases and political turmoil in Afghanistan.

Dow Jones Industrial Average was down 74 points, or 0.21 per cent, at 35,441. The S&P 500 fell 15.06 points or 0.34 per cent at 4,452.

Asian shares were mostly down in Tuesday morning trade despite gains overnight on Wall Street. Nikkei gained 0.18 per cent in morning trade while the Topix index slipped fractionally.

SGX Nifty trends indicate a cautious opening for the index in India with a 7 points loss as Nifty futures on the Singaporean Exchange were trading at 16,555.

Finance Minister Nirmala Sitharaman said on August 16 that the union government is soon expected to take up a bill to regulate cryptocurrency and its growing market in India.

Oil prices settled lower on Monday. Brent crude settled down USD 1.08 or 1.5 per cent at USD 69.51 a barrel and US oil fell by USD 1.15 or 1.7 per cent to USD 67.29.

And, Seven stocks Cadila Healthcare, Indiabulls Housing Finance, NALCO, Punjab National Bank, RBL Bank, SAIL and Sun TV Network that were under the F&O ban on NSE for August 17.

India Scanner News Network

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