In opening market trading Wednesday, the SGX Nifty is lower by 22.5 points which is mostly in trend with what is happening in other Asian markets. The high resistance level for Wednesday is 8,208.50 and the low support level is 8,016.50.

As a leading indicator for the NSE Nifty the SGX Nifty is pointing lower for stocks in India on Wednesday. On Tuesday, the NSE Nifty closed lower at 8108.85 for a loss of -1.75 points or -0.02 percent. The BSE Sensex was also lower closing at 26395.71 for a loss of -1.06 points or -0.01 percent. Trading across sectors was mixed with losses led by energy and technology. On Tuesday, the S&P Oil & Gas Index was lower at 9353.07 for a loss of -48.73 points. The S&P BSE Information Technology Index was lower at 11222.99 for a loss of -46.87 points.

While stocks traded mostly flat ahead of the U.S. Federal Reserve’s meeting this week and the U.K.’s exit vote on June 23, banking stocks were higher for the day. Banking stocks gained after India’s central bank reported easing of restructuring regulations for stressed assets. The State Bank of India gained 3 percent, Punjab National Bank gained 5 percent and Bank of India gained over 2 percent. Banking indexes were also higher with the S&P BSE Bankex up 82.1 points to 20244.92.

In other Asian markets on Tuesday, China’s Shanghai Composite was higher at 2842.19 for a gain of 9.12 points or 0.32 percent. Japan’s Nikkei Composite was lower at 15859.00 for a loss of -160.18 points or -1.00 percent. Hong Kong’s Hang Seng Index was also lower at 20387.53 for a loss of -125.46 points or -0.61 percent.

In Europe market indexes were mostly lower on Tuesday. The Stoxx Europe 600 was lower at 320.53 for a loss of -6.27 points or -1.92 percent. The Stoxx Europe 50 was lower at 2680.90 for a loss of -52.19 points or -1.91 percent. France’s CAC 40 was lower at 4130.33 for a loss of -96.69 points or -2.29 percent. Germany’s DAX was lower at 9519.20 for a loss of -138.24 points or -1.43 percent.

On Tuesday, the leading stock indexes in the U.S. were lower prior to the completion of the Fed’s two-day monetary policy meeting Wednesday. The Dow Jones Industrial Average closed at 17674.82 for a loss of -57.66 points or -0.33 percent. The S&P 500 was also lower, closing at 2075.32 for a loss of -3.74 points or -0.18 percent. The Nasdaq Composite closed lower at 4843.55 for a loss of -4.89 points or -0.10 percent.

Other notable index closes in the U.S. on Tuesday included the small-cap Russell 2000, closing lower at 1147.85 for a loss of -2.85 points or -0.25 percent; the S&P 600 closing at 703.90 for a loss of -0.40 points or -0.06 percent; the S&P 400 Mid-Cap Index closing at 1477.43 for a loss of -4.89 points or -0.33 percent; the Russell 3000 closing at 1223.55 for a loss of -2.56 points or -0.21 percent; and the Dow Jones U.S. Select Dividend Index closing at 595.77 for a gain of 0.41 points or 0.07 percent.