SGX Nifty is indicating a pessimistic start. Watch out for 20-DMA, it may offer support to the bulls.

Opening Bell.

by 5paisa Research Team Last Updated: Dec 13, 2022 - 01:55 pm 50.6k Views
Listen icon

Opening Bell: Here’s what you need to know before the market opens on October 05, 2021.

SGX Nifty is indicating a pessimistic start. Watch out for 20-DMA, it may offer support to the bulls.

The early trend from SGX Nifty indicates that the Indian benchmark indices are in for a pessimistic start on the back of weak cues from the global peers. SGX Nifty is trading down by 138 points or 0.78% at 17,572.50 level.

Technically speaking, one needs to watch whether or not, Nifty holds above its important short-term moving average i.e., 20-DMA (17,563.51). If it does, expect the bulls to try to attempt a recovery after an initial bump. On other hand, if it fails to do so, then Nifty is likely to test levels of 17,400-17,440 on lower levels.

Cues from Asian markets: Asian stock markets were seen reeling under selling pressure on Tuesday amid a sharp sell-off witnessed on Wall Street. Japan’s Nikkei 225 has plummeted more than 3% and entered into correction territory as it was down by more than 10% from its September high. Meanwhile, Hong Kong’s Hang Seng was down by 0.74% and was seen trading below its important psychological mark of 24,000.

Overnight cues from US markets: All three major US stocks indices ended the first trading session of the week with substantial losses. Tech-heavy Nasdaq relatively underperformed as it plunged more than 2% amid a sharp sell-off in social media giant Facebook, which slipped nearly 5%. While the S&P 500 lost more than 1% and the Dow dropped 0.94%.

Last session summary: On Monday, Indian benchmark indices snapped their four-day losing streak as broad-based buying helped Sensex and Nifty to registered gains of 0.91% each. Interestingly, broader markets continued to outperform the frontline indices as Nifty Midcap 100 and Smallcap 100 gained 1.57% and 1.58%, respectively.  

Among the sectoral indices, Nifty Metal was the top gainer as it jumped nearly 3% followed by Nifty Media and Nifty Realty which gained 2.6% and 2.17%, respectively. India VIX further cooled off on Monday as it slipped below 17. 

FII’s and DII’s activity on Monday: On Monday, both FIIs and DIIs were net buyers to the tune of Rs 860.50 crore and Rs 228.06 crore, respectively.

Important events to watch out for: Market participants will look forward to the announcement of Markit Composite PMI and Markit Services PMI for September.


Share Market Today

How do you rate this article?

Start Investing in 5 mins*

Rs. 20 Flat Per Order | 0% Brokerage


About the Author

Our research team is composed of some highly qualified research professionals, their expertise range across sectors.

Enjoy 0%* Brokerage with 5paisa
Resend OTP
Please Enter OTP
Mobile No. belongs to

By proceeding, you agree to the T&C.

Latest News
Vodafone Idea FPO Debuts on Bourses with 25% Premium

Vodafone FPO lists at 25% premium to issue price

ITC Hotels Demerger: Shareholder Meeting Set for June 6 to Approve Scheme

ITC share price are in focus after the FMCG giant said a meeting of the ordinary shareholders of the company would be convened on Thursday, June 6th, 2024, at 10.30 a.m.

Kotak Bank Share Price Dive 10%: Analysts Cut Ratings and Targets

Kotak Mahindra Bank share price plummeted 10% on April 25 to ₹1,658.75 apiece on the BSE, a day after the Reserve Bank of India (RBI) halted the private sector lender from on-boarding new clients through online channels and issuing