Indian benchmark indices are likely to open higher today as SGX Nifty rose 58 points to 17,145 level amid mixed global cues. Singapore Nifty (SGX Nifty) is the Indian Nifty index that is traded in Singapore Stock Exchange and considered to be the first indication of the Indian markets opening.
On Tuesday, equity market ended lower in volatile trade led by losses in banking, metal and auto shares. Sensex closed 195 points lower at 57,064 and Nifty lost 70 points to end at 16,983. Tata Steel was the top Sensex loser, shedding 3.87 per cent, followed by Kotak Bank, Bajaj Auto, M&M, Bharti Airtel, Reliance Industries, IndusInd Bank and Maruti.
Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan said, “Going ahead, the low point of the recent Doji formation i.e. 16,782 will be the key support to watch out for. Nifty can go for a base formation in the range of 16,800-17,200.”
Foreign institutional investors (FIIs) sold shares worth Rs 5,445 crore on November 30, and domestic institutional investors (DIIs) bought shares worth Rs 5,350 crore, as per provisional data available on NSE.
Global markets
Australia’s S&P/ASX 200 was trading 16 points lower at 7,239. Nikkei rose 225 points to 28,047 and Shanghai Composite was trading flat at 3,566. Hang Seng index zoomed 336 points to 23,810. On Wall Street, the S&P 500 ended 88 points lower at 4,567, the Nasdaq lost 245 points to 15,537 and the Dow Jones fell 652 points to 34,483.
