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 140 points.

The benchmark index moves in the trading range August 30 for the fourth sequence session. BSE Sensex fell 49 points to 59,197, while Nifty50 dropped 10 points to 17,656 and formed a small bearish candle on a daily graph.

According to the pivot graph, the main level of support for nifty is placed at 17,574, followed by 17,492. If the index moves upwards, the main resistance level to watch out for is 17,751 and 17,846.

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The main index of Wall Street closed lower on Tuesday, the first session after the US Labor Day holiday and summer vacation, because traders assess new economic data in unstable trade.

Dow Jones Industrial Average fell 173.14 points, or 0.55 percent, to 31,145.3; S&P 500 lost 16.07 points, or 0.41 percent, to 3,908.19; And Nasdaq composite fell 85.96 points, or 0.74 percent, to 11,544.91.

Asian Market

The market in Asia-Pacific was opened lower on Wednesday because investors anticipated the Federal Reserve to provide a summary of the current economic conditions, also known as The Beige Book. Nikkei 225 in Japan is traded 0.41 percent lower and Topix is ​​also 0.37 percent lower. In South Korea, Kospi traded 0.73 percent lower, and S&P/ASX 200 in Australia is 0.47 percent lower.

Sgx nifty

The SGX Nifty trend shows the opening of the gaps to the wider index in India with a loss of 140 points. Nifty Futures traded around 17,535 levels at Singapore’s exchange.

The price of oil sank on Tuesday after a two -day rally due to concerns again about weaker demand and the prospect of interest rate increases more support the support of the first OPEC+output target cut since 2020.

Brent crude oil dropped $ 3.26, or 3.4 percent, to $ 92.48 at 11:27 am EDT (1527 GMT). The US intermediate Texas West (WTI) dropped from Monday trading to $ 86.37, down 50 cents or 0.6 percent from Friday closure.

The government provides an extension of 2 years to electricity companies to comply with SO2 emissions norms

The time limit to comply with the norm of sulfur dioxide emissions (SO2) for electricity companies has been extended in two years, according to government notification issued on September 6 -Population -Plus, the deadline has been pushed to ’31 December 2024 ‘, the Ministry of Environment was declared.

The power unit operated in a radius of 10 km area marked as “critical polluted” must comply with SO2 emission norms on December 31, 2025, he added. Utilities that are not included in the category mentioned above must comply with emission norms on December 31, 2026, the notification said further.

Life Insurance Corporation (LIC) India and the central government tend to offer 60 percent of shares for sale at IDBI Bank, CNBC-TV18 reported on September 6. Flower expressions (EOI) for the divestment process will be invited by October.

Previously it was reported that LIC and the government could sell up to 65 percent of shares in IDBI Bank. Both currently have nearly 94 percent in IDBI Bank, where the center has 45.48 percent shares and LIC holds 49.24 percent, on 30 June.

The government will look for a complete test from the Reserve Bank of India (RBI) at each step in the divestment process. There is no limit to promoters who have subject to submission of plans to reduce stocks in 15 years. However, the 26 percent voting rights hat remains for divestment.