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Trends on SGX Nifty indicate a positive opening for the broader index in India, with a 44 points gain or 0.37 percent.

The Indian equity market witnessed selling pressure for the second session in a row on February 10, largely weighed down by concerns around coronavirus.

Sensex closed 162 points, or 0.39 percent, lower at 40,979.62 while Nifty ended with a loss of 67 points, or 0.55 percent, at 12,031.50.

According to the pivot charts, the key support level for Nifty is placed at 11,980.37, followed by 11,929.23. If the index continues moving up, key resistance levels to watch out for are 12,093.07 and 12,154.63.

Global Market:

Asian Markets: – Asian share markets looked set for another cautious session on Tuesday as investors tried to judge how quickly China factories could return to work as the coronavirus continues to spread and deaths mount.
MSCI’s broadest index of Asia-Pacific shares outside Japan inched up 0.1% with the Australian market rising 0.6% and South Korea’s KOSPI lifting 0.7%. Japan’s Nikkei was closed for a holiday, though futures NKc1 traded just a shade firmer.

US Markets: –  The S&P 500 and the Nasdaq closed at record highs on Monday as Chinese workers and factories slowly returned to business following a Lunar New Year holiday that was protracted by the deadly coronavirus outbreak. The Dow Jones Industrial Average rose 174.31 points, or 0.6%, to 29,276.82, the S&P 500 gained 24.39 points, or 0.73%, to 3,352.1 and the Nasdaq Composite added 107.88 points, or 1.13%, to 9,628.39.

Major Headlines of the day: –

Infosys to acquire Simplus, a leading salesforce consulting and platinum partner

Bombay Dyeing: Q3 profit at Rs 162.4 cr versus the loss of Rs 159.3 crore, revenue dips 8.6 percent to Rs 377.7 cr YoY.

Petronet LNG Q3: Net profit down 38.8 percent at Rs 675.2 crore versus Rs 1,103.1 crore, revenue down 4.8 percent at Rs 8,910.2 crore versus Rs 9,361.2 crore, QoQ.

NALCO Q3: Net loss at Rs 33.9 crore versus profit of Rs 302.3 crore, revenue down 23.2 percent at Rs 2,088.3 crore versus Rs 2,718.9 crore, YoY

Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.

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