In opening market trading Friday, the SGX Nifty is lower by 21 points, an indication that stocks in India will likely be affected by the global selloff. The high resistance level for Friday is 8,090.83 and the low support level is 7,726.33.

On Thursday, the NSE Nifty closed at 7,900.40 for a gain of 51.55 points or 0.66 percent. The BSE Sensex closed at 25,790.22 for a gain of 193.20 points or 0.75 percent.

Gains in India Thursday were led by parliament’s decision to introduce a new bankruptcy code focused on corporate debt and business improvement. The new bankruptcy code will shorten the amount of time businesses have to make bankruptcy payments. Plans to improve bankruptcy collections also include added professional to manage cases and increased data due diligence. Bank stocks were significantly higher with the news. The S&P BSE BANKEX closed at 19,281.2 on Thursday for a gain of 181.21 points. The Bank Nifty was also higher, closing at 16,923.7 for a gain of 169.25 points. Leading stocks in the sector for the day included ICICI Bank.

Other sectors leading the day’s gains included consumer durables, information technology and healthcare. Asian Paint was actively traded for the day as the company reported a gain of 21.20 points or 2.34 percent to close at 929.05 INR.

In other Asian markets, China’s Shanghai Composite closed at 2,835.86 for a loss of -1.18 points or -0.04 percent. The Nikkei in Japan was higher by 67.33 points or 0.41 percent to close at 16,646.34. Hong Kong’s Hang Seng Index closed at 19,915.46 for a loss of -139.83 points or -0.70 percent. The Asia Dow was down -8.87 points or -0.34 percent to 2,624.77.

In Europe market indexes were mostly lower following the global trend Thursday. The FTSE 100 was down -58.30 points or -0.95 percent to close at 6,104.19. The FTSE 250 was down -60.88 points or -0.36 percent to close at 16,659.87. France’s CAC 40 was down -23.40 points or -0.54 percent to 4,293.27. Germany’s DAX was down -113.20 points or -1.13 percent to 9,862.12. The Stoxx Europe 600 was down -1.63 points or -0.49 percent to close at 333.11. The Stoxx Europe 50 was down -14.30 points or -0.51 percent to close at 2,786.69.

In the U.S., retail stocks continued to weigh on the market and weaker employment data was also a factor. For the day on Thursday, the Dow Jones Industrial Average gained 10.06 points or 0.06 percent to close at 17,721.18. The S&P 500 was down, closing at 2,064.11 for a loss of 0.35 points or 0.02 percent. The Nasdaq Composite closed lower at 4,737.33 for a loss of 23.35 points or 0.49 percent.