In opening market trading Tuesday, May 2, the SGX Nifty is lower by -10.50 points and Asian markets are trending lower. The SGX Nifty’s high resistance level for Tuesday is 7,941.67 and the low resistance level is 7,733.17. The SGX Nifty’s lower open is implying Indian stocks will be down on Tuesday.

On Monday, the India NSE Nifty closed at 7,805.90 down -43.90 points or -0.56 percent. The BSE Sensex was also lower Monday, closing at 25,436.97 for a loss of -169.65 points or -0.66 percent. Market sectors in India were mixed with consumer durables and metals leading the day’s gains while banking stocks led the day’s losses. Mid-caps and small-caps performed well. The S&P BSE Mid Cap finished the day at 11,164.4, up 121.48 points. The S&P BSE Small Cap finished Monday at 11,063.86 for a gain of 43.27 points.

In the broader market, worries over manufacturing output in India caused losses for the day. A key measure of manufacturing output was released Monday, the Nikkei/Markit Manufacturing Purchasing Managers Index. The Index was down from March reporting a level of 50.5 for April in comparison to 52.4 for March. Manufacturing output will continue to be a key economic factor on watch in India. Leading stocks falling for the day in India included ICICI Bank (ICICBANK), Dr. Reddy’s (DRREDDY), Adani Ports (ADANIPORTS) and Bharti Airtel (BHARTIARTL).

In other Asian markets Monday, the Shanghai Composite was closed Monday with an index level of 2,938.32 Friday. Hong Kong’s Hang Seng Index was also closed Monday with an index level of 21,067.05 Friday. The Nikkei closed at 16,147.38 on Monday in Japan with a loss of -518.67 points or -3.11 percent. The Nikkei 300 closed at 262.13 for a loss of -7.73 points or -2.86 percent.

In the U.S., market indexes started May higher after regaining some ground from last week’s losses. On Monday, the Dow Jones Industrial Average closed at 17,891.16 for a gain of 117.52 points or 0.66 percent. The S&P 500 Index closed at 2,081.43 for a gain of 16.13 points or 0.78 percent. The Dow Jones Industrial Average was led by Home Depot (HD), Visa (V) and Microsoft (MSFT). In the broader market the consumer discretionary, financial services and consumer staples sectors led the market higher. The Nasdaq Composite closed at 4,817.59 for a gain of 42.24 points or 0.88 percent and the Nasdaq 100 closed at 4,381.30 for a gain of 40.00 points or 0.92 percent.

In Europe, FTSE 100 and FTSE 250 were closed on Monday. France and Germany followed the U.S. market indexes higher. France’s CAC 40 closed at 4,442.75 for a gain of 13.79 points or 0.31 percent. Germany’s DAX closed at 10,123.27 for a gain of 84.30 points or 0.84 percent.