Markets News

Trends on SGX Nifty reflects positive opening for the second day straight

The Indian stock market was expected to open at a flat rate as per the current trends on the benchmark indices. SGX Nifty indicated a flat positive signal in India.

Moreover, the BSE Sensex added 609.83 points climbing up by 1.18 percent to open at 52,154.13 levels. On the other hand, the Nifty50 moved up by 151.40 points. It has added 1 percent to settle at 15,314.70 levels.

The current key supports are hovering around 15,258.67 levels as per the current data charts followed by 15,202.63 levels.

Further, the key resistance levels can moreover increase to 15,355.47 and 15,396.23. This can happen in case, anyhow the index moves up further.

On the contrary, the Nifty Futures traded flat near 15,347 on the Singaporean Exchange at 07:20 IST.

Within this, the global shares were standing firm on Tuesday. A solid foundation was placed to extend the bulls to a 12th session straight.

Also, the oil prices surged to the highest levels on Monday. The Brent crude was high by 93 percent hitting the highest since Jan 22 FY20.

However, amid positive market events, India is currently on track of economic recovery estimating recovery around 10%.

Moving further, SEBI is likely to change some norms for large IPOs in the near future.

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