Indian benchmark indices are likely to the start the week on a positive note on the back of strong global cues. The SGX Nifty, which was trading at 9,981, indicates that the Nifty could gain point at the opening bell.Now, going ahead, Nifty has a cluster of resistance in the zone of 9,980-10,000. Successful breakout of this resistance zone may unfold a fresh leg of upmove towards the levels of 10,080 and 10,140. On the other hand, support is seen around 9,880 and 9,850 levels.
Back home, it was yet another day of consolidation as Indian market remained range-bound and settled the last trading session of the week with marginal gains. The broader market underperformed the benchmark indices and the market breadth, indicating the overall health of the market, was negative. Sector-wise, pharma, public sector banks and realty prevented the markets from gaining ground and dragged the markets.
The US stocks ended Friday’s session on a mixed note, with both the S&P 500 and the tech-heavy Nasdaq Composite ending the session in the red, whereas the Dow Jones Industrial Average eked out modest gains. The Dow Jones Industrial Average gained 13 points to close at 21,798. The Nasdaq Composite Index fell 38 points and the S&P 500 slipped 4 points to 2,461.
Asian stocks edged higher in early trading on Monday. Japan’s Nikkei 225 is leading with gains of 1.44%, followed by Hong Kong's Hang Seng and China’s Shanghai Composite which have gained 0.95% and 0.21%, respectively.
