The Indian equity markets may extend losses in opening trade on Tuesday on global uncertainties. The SGX Nifty, which was trading at 9,873, indicated that the Nifty may open with minor loss of 11 points at the opening bell. Now, going forward, Nifty has strong support in the region of 9,780-9,800 level. On the upside, the level of 9,900-9,930 may act as a stiff resistance.
Back home, Indian markets extended their southward journey for the fifth straight session and hit lowest closing levels in almost four weeks. The Nifty and Sensex breached their important psychological levels of 9,900 and 31,700, respectively, on a closing basis. Intense selling pressure was seen in the stocks of broader indices, i.e. Mid-Cap and Small-Cap, as these indices registered a fall of 1.14% and 2.02%, respectively.
The US stock markets ended the first trading session of the fresh week in the red. The tech-laden Nasdaq showed a particularly steep decline. The Nasdaq Composite Index plunged by 56 points to 6,371. The Dow Jones Industrial Average slipped 54 points and the S&P 500 lost 6 points to close at 2,497.
A majority of Asian markets were trading in the negative terrain in early trade on Tuesday. Japan’s Nikkei 225 has shed 47 points, Hong Kong's Hang Seng has lost 25 points while China’s Shanghai Composite has remained unchanged.
