Sensex, Nifty likely to open lower amid mixed global cues

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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.

Benchmark indices closed lower on Tuesday, weighed by losses in auto and consumer durables shares amid a negative trend in global markets.

Sensex fell 166 points to end at 58,117 and Nifty fell 43 points to 17,324. ITC was the top Sensex loser, falling 2.73 per cent, followed by Bajaj Finance, Kotak Bank,  Bharti Airtel and RIL.

Nagaraj Shetti, Technical Research  Analyst, HDFC Securities said, “The market showing consolidation movement on Tuesday, post bearish pattern of Monday could signal chances of sustainable upside bounce back in the coming sessions. The important resistances to be watched around 17,500 and next 17,650 levels. Immediate support is placed at 17200 levels.”

Foreign institutional investors (FIIs) sold shares worth Rs 763.18 crore on December 14, and domestic institutional investors (DIIs) bought shares worth Rs 425.43 crore, as per provisional data available on NSE.

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