Indian equity markets are likely to open with marginal losses on Thursday tracking muted cues from Asian markets. The trends on SGX Nifty suggest Nifty it set to open with modest loss of 20 points at 9,927. Nifty50 index has so far retraced 50% of its fall and now, going forward, the level of 9,990 is a key resistance level as 61.8% is placed at this level. On the downside, supports are seen at 9,880 and 9,850.
Back home, Indian markets extended their gain for fourth consecutive trading session on Wednesday after the RBI kept the policy repo rate unchanged. At the end, the BSE Sensex gained 174 points to finish at 31,672 and the Nifty 50 index climbed 55 points to settle above the 9,900-mark. The BSE Mid-Cap index added 0.39% and the BSE Small-Cap index rose 0.79%.
The US markets eked out modest gains on Wednesday, extending their recent streak of gains that’s taking all major benchmarks to new record closing highs. The Dow Jones Industrial Average inched up 20 points to 22,661.64, the Nasdaq Composite Index gained 3 points to 6,535 and the S&P 500 crept up 3 points to 2,538.
Equities market in Asia began the session on muted note with Japan’s Nikkei 225 trading with gains of 2 points. The markets in Hong Kong and China were closed for holidays.
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