Live market update: Despite tepid cues from global peers, Indian benchmark indices looked set to open on a bullish note as SGX Nifty was trading 32 points up at 17,423 around 8.05 am. The stock-specific actvity is likely to remain high on bourses amid related news flow. Further, the primary market action will also remain abuzz as the IPO by Sansera Engineering will open for second day of bidding process. It was subscribed 53 per cent on Tuesday.
Tech charts indicate that Nifty needs to sustain above 17,430 on the upside for fresh momentum, while 17,200 remains a key support level on the downside. The Sensex, on the other hand, can face resistance around 58,350-58,410, while it may seek support around 58,145-58,080.
In Asia, Hong Kong’s Hang Seng led the losses in early Wednesday deals, sliding over 1 per cent. This was followed by Japan’s Nikkei (down 0.75 per cent), and Australia’s ASX200 (0.4 per cent). On the contrary, South Korea’s Kospi was up 0.08 per cent.