The Indian stock market is expected to open flat following a cautious Asian market as trends on SGX Nifty indicate a flat opening for the index in India with a three-point loss.
The BSE Sensex gained 127.01 points at 40,685.50 on October 23 while the Nifty50 climbed 33.90 points to 11,930.40. According to pivot charts, the key support level for the Nifty is placed at 11,901.23, followed by 11,872.17. If the index moves up, the key resistance levels to watch out for are 11,966.93 and 12,003.57.
The S&P 500 and Nasdaq closed modestly higher on Friday in choppy trading, with investors keeping a close eye on negotiations on a U.S. stimulus package that would ease the economic shock caused by the coronavirus pandemic.
The Dow Jones Industrial Average closed 28.09 points lower, or 0.1 percent, to 28,335.57, the S&P 500 gained 11.9 points, or 0.34 percent, to 3,465.39 and the Nasdaq Composite added 42.28 points, or 0.37 percent, to 11,548.28. The communication services sector rose 1.1 percent, the highest gainer among the major S&P sectors.