Market to open with 200-plus point cut

Nifty could open with a sharp 250-point plus downward cut at 17,050 levels, signals the Singapore-traded SGX Nifty.

The SGX, a derivative of Nifty, traded at 17,056 at 8:30 am IST against the Nifty closing on Friday at 17,315. The Indian stock market opens at 9:15 am.

US stocks closed sharply lower on Friday, Indian night time, with Dow down 2% and Nasdaq seeing an almost 4% cut.

For Indian stocks, this week is a power-packed one with results of TCS today, HCL Tech on October 12 and Infy on October 13.

Nifty options as of Friday showed strong support at 17,000 and resistance at 17,400. So far in October, FPIs purchased shares worth ₹2440 crore, selling ₹1.66 lakh crore of shares this month .