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Market Headstart: Crucial support for Nifty at 12,000-12050; all eyes on L&T, Axis Bank post Q3 show

Trends on SGX Nifty indicate a flat opening for the index in India, with a 8 points, or 0.07 percent, gain

January 23, 2020 / 08:44 AM IST

Consolidation continued on D-Street on Wednesday with Nifty registering a negative close for the fourth day while the S&P BSE Sensex closed lower for the third day.

Asian markets traded weak on January 23 as investors remained anxious about the spread of a new flu-like virus in China just as millions prepared to travel for the Lunar New Year.

The Chinese yuan fell toward a two-week low, while safe-havens such as the Japanese yen, gold, and US Treasuries rose before a travel blockade of the Chinese city, Wuhan, at the centre of the outbreak starts later on Thursday, said a Reuters report.

Trends on SGX Nifty indicate a flat opening for the index in India, with a 8 points, or 0.07 percent, gain. The Nifty futures were trading around 12,148-level on the Singaporean Exchange.