Markets to follow weak global cues

Indian shares may open lower on Wednesday, mirroring weak cues from Asian markets after US stocks fell notably overnight. The SGX Nifty, which was trading at 9,936 lower by 39 points is indicating a negative start for the day.

Now going forward, Nifty50 index strong resistance in the zone of 9,990-10,000 and if it sustains above these levels it may extend its upward rally up to levels of 10,080. On the downside, important support for Nifty are seen around 9,900 and 9,860.
 
Back home, Indian markets registered modest gains in volatile session of trade on Tuesday. Realty and Cement stocks were seen buzzing on the bourses. The broader market outperformed the benchmark indices. At the closing bell, the Sensex settled at 31,810 with gains of 107 points and Nifty ended the day with gains of 39 points above 9,950.

The US stock indices ended Tuesday’s session sharply lower as investors focused on heightened tensions between the West and North Korea and worries about a lack of policy progress on President Donald Trump’s pro-growth agenda. All three benchmark indices logged their worst one-day drop since August 2017. The Dow Jones Industrial Average plunged 234 points to 21,753. The tech-heavy Nasdaq Composite Index tumbled 60 points to 6,376. The S&P 500 shed 19 points to 2,458.
 
The Asian stock indices were trading lower on Wednesday after a sharp fall on the Wall Street in the overnight trade. The Japan’s Nikkei 225 has drop 0.38% and the Hong Kong's Hang Seng has lost 0.88%. The China’s Shanghai Composite has slipped 0.36%.