The market is expected to be opened in red as a trend in SGX Nifty shows the opening of a gap-down for a broader index in India with a loss of 215 points.
BSE Sensex rose 59 points to 58,834, while Nifty rose 36 points at 17,559 and formed a bearish candle on a daily graph, because the closure was lower than the opening level.
According to the pivot graph, the main support for nifty is 17,490, followed by 17,421. If the index moves upwards, the main resistance level to watch out for is 17,657 and 17,754
Stocks -Sahaham hit Friday after Federal Reserve Chair Jerome Powell said in his speech at Jackson Hole, the central bank would not resign in his struggle against rapid inflation.
Dow Jones Industrial Average fell 1,008.38 points, or 3.03 percent, to 32,283.40, with losses accelerated to the closure. S&P 500 fell 3.37 percent to 4,057.66, and Nasdaq composite launched 3.94 percent to 12,141.71.
Asian Market
Asian shares launched on Monday as a risk of increasing interest rates that are more aggressive in the United States and Europe produces bonds to produce higher and test the assessment of equity and income.
The widest index of MSCI from Asia-Pacific shares outside Japan fell 0.7 percent. Nikkei Japan fell 2.3 percent, while South Korea dropped 2.3 percent.
Sgx nifty
The SGX Nifty trend shows the opening of the gaps to the wider index in India with a loss of 215 points. Nifty Futures traded around 17,444 levels at Singapore’s exchange.
Americans head to the painful period of slow economic growth and the possibility of increasing unemployment when the Federal Reserve increases interest rates to fight high inflation, the head of the US Central Bank Jerome Powell warned on Friday in the most brightest economic language.
In a speech that kicked the central banking conference of Jackson Hole in Wyoming, Powell said the Fed would raise interest rates as high as needed to limit growth, and would make them there “for some time” to bring down inflation that went more than three times 2 percent Fed.
Reducing inflation tends to require a continuous period of growth under the trend,” Powell said. “While higher interest rates, slower growth, and softer labor market conditions will reduce inflation, they will also bring pain in the household and business. This is an unfavorable cost to reduce inflation. But failure to Restoring price stability will mean much greater pain. “
The Sebi Market regulator on Friday said the portfolio manager could invest a maximum of 30 percent of client assets in their “colleagues” securities or related parties.
This happened after sebi changed the rules of the portfolio manager on Monday that mandating the limitations of the attention of investment in partners and parties related to the portfolio manager, the requirements to take the approval of previous clients for investment and restrictions were based on securities credit ratings.
Regulators define “partners” as corporate bodies where the Director or Partner of Portfolio Managers holds, both individually and collectively, more than 20 percent of equity share capital paid or partnership interest. In the Circular, the Indian Securities and Exchange (SEBI) said “Portfolio managers will invest up to a maximum of 30 percent of their client portfolio (as a percentage of client assets managed) in their own partners /related parties.