The Indian stock market is expected to open in the green as trends on SGX Nifty indicate a positive opening for the index in India with a 74 points gain.
The BSE Sensex fell 263.72 points to 48,174.06 on January 6 while the Nifty50 slipped 53.20 points to 14,146.30. According to pivot charts, the key support levels for the Nifty are placed at 14,042.67, followed by 13,939.13. If the index moves up, the key resistance levels to watch out for are 14,246.97 and 14,347.73.
The Dow and the S&P 500 ended higher, soaring to all-time highs on Wednesday, as investors piled into financial and industrial stocks on bets a Democratic sweep in Georgia would lead to more fiscal stimulus and infrastructure spending.
Foreign institutional investors (FIIs) net sold shares worth Rs 483.64 crore, while domestic institutional investors (DIIs) net sold shares worth Rs 380.41 crore in the Indian equity market on January 6, as per provisional data available on the NSE.