In opening market trading Thursday, the SGX Nifty is lower by 27 points and down 0.35 percent as markets appear likely to continue losses. On Wednesday in Singapore the SGX Nifty closed at 7,697.00 down 27 points. The high for the day was  7,784.00 and the low was 7,719.00. The high resistance level for Thursday is 7,830.67 and the low resistance level is 7,635.67. A leading indicator for the India NSE Nifty, the futures SGX Nifty Index fell on Wednesday as all sectors reported losses except technology. Auto stocks fell the most as shown by the S&P BSE Auto Index which reported a loss of -378.06 points to close at 18,059.18. The S&P BSE IT Index was higher Wednesday adding 25.6 points to close at 11,104.76. The NSE Nifty closed at 7706.55 for a loss of -40.45 points or -0.52 percent. The BSE Sensex closed at 25,101.73 for a loss of -127.97 points or -0.51 percent.

Disappointing earnings and continued market losses globally led to the day’s falling valuations on Wednesday in India and Singapore. Stocks leading the market lower in India included Adani Ports, Tata Motors, Hindalco, Tata Steel and BHEL. Low oil prices also continued to weigh on Indian stocks and banking stocks fell further. The S&P Oil & Gas Index was down -93.61 points to 9,188.61. The Bank Nifty Index fell -114.45 points to 16,274.25.

In other Asian markets China’s Shanghai Composite closed at 2,991.27, down -1.37 points to -0.05 percent. Hong Kong’s Hang Seng Index closed at 20,525.83 for a loss of -151.11 points or -0.73 percent. Trading in Japan was closed.

In Europe, market indexes were also lower. The FTSE 250 closed at 16,659.44 for a loss of -70.65 points or -0.42 percent. The FTSE 100 closed at 6,112.02 for a loss of -73.57 points or -1.19 percent. In France the CAC 40 closed at 4,324.23 for a loss of -47.75 points or -1.09 percent. Germany’s DAX closed at 9,828.25 for a loss of -98.52 points or -0.99 percent.

In the U.S., lower economic reports continued to be a factor weighing on market valuations and most U.S. indexes were lower. On Wednesday the large-cap Dow Jones Industrial Average closed at 17,651.61 for a loss of 99.30 points or 0.56 percent. The S&P 500 closed at 2,051.16 for a loss of 12.21 points or 0.59 percent. The Nasdaq Composite closed at 4,725.64 for a loss of 37.58 points or 0.79 percent. The small-cap Russell 2000 closed at 1,115.18 for a loss of 6.57 points or 0.59 percent. The S&P 400 Mid-Cap Index closed at 1,449.25 for a loss of 5.05 points or 0.35 percent. The Russell 3000 closed at 1,207.46 for a loss of 7.35 points or 0.61 percent and the Dow Jones U.S. Select Dividend Index closed at 585.33 for a loss of 0.78 points or 0.13 percent.