The Indian equity markets may open flat to slightly lower on Monday as cues from Asian markets are mixed. The SGX Nifty, which was trading at 9,980, indicating that the Nifty may open with marginal loss of 5 points at opening bell. Nifty50 has strong support placed in the region of 9,900-9,920, however, breaching this support level may open up for further correction up to levels of 9,850. On the flip side, the level of 10,000-10,040 may act as stiff resistance zone now.
Back home, Indian markets witnessed a brutal fall on Friday with the BSE Sensex plummets nearly 450 points to close at 31,922 and the Nifty 50 index crashed by 158 points to finish at 9,964. The day began with North Korea threatened to test a nuclear weapon, followed up with S&P Global Ratings downgraded China’s credit rating and the rating agency lowered its sovereign rating on Hong Kong.
Friday turned out to be a mixed day for the US stocks with Nasdaq and the S&P 500 index logging minor gains. The Dow Jones Industrial Average ended the session lower by 10 points to 22,350. The Nasdaq Composite Index gained 4 points at 6,427 and the S&P 500 inched up 2 points at 2,502.
Asian indexes were mixed in early Monday trade. The Japan’s Nikkei 225 has climbed 90 points. The Hong Kong's Hang Seng has lost 235 points and the China’s Shanghai Composite has shed 3 points.
