Market Live Updates Today: Trends on SGX Nifty indicate a positive opening for the broader index in India with a gain of 126 points.

The Indian stock market is expected to open in the green as trends on SGX Nifty indicate a positive opening for the broader index in India with a gain of 126 points.

The BSE Sensex fell 152 points to 52,541, while the Nifty50 declined 40 points to 15,692 and formed a small-bodied bearish candle which resembles the Inside Bar kind of pattern formation on the daily charts.

As per the pivot charts, the key support level for the Nifty is placed at 15,653, followed by 15,613. If the index moves up, the key resistance levels to watch out for are 15,758 and 15,823.

The S&P 500 rallied on Wednesday to snap a five-session losing skid after a policy announcement by the Federal Reserve that raised interest rates to market expectations as the central bank seeks to fight rising inflation without sparking a recession.

The Federal Reserve raised its target interest rate by three-quarters of a percentage point, its biggest rate hike since 1994, and projected a slowing economy and rising unemployment in the months to come.

The Dow Jones Industrial Average rose 303.7 points, or 1%, to 30,668.53, the S&P 500 gained 54.51 points, or 1.46%, to 3,789.99 and the Nasdaq Composite added 270.81 points, or 2.5%, to 11,099.16.

Asian Markets

Asia-Pacific markets rallied on Thursday, tracking US stocks after the Federal Reserve raised benchmark interest rates 75 basis points in a move that equates to the most aggressive hike since 1994. Japan's Nikkei 225′s rose nearly 2%. In Australia, the S&P/ASX 200 was trading higher by about 0.6%. In South Korea, the Kospi index also went up by 1.61%.