Sensex, Nifty likely to open flat amid mixed global cues

Indian benchmark indices are likely to open on a flat note today as SGX Nifty fell 13 points to 17,806 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.

Benchmark indices ended higher for the second consecutive session on September 5, powered by gains in index heavyweights Reliance Industries, TCS and Infosys amid a largely positive trend in global markets.

Sensex ended 445 points or 0.75 per cent higher at 59,744.88 and Nifty surged 131.05 points or 0.74 per cent to 17,822.30.

IndusInd Bank was the top Sensex gainer, rising 4.60 per cent, followed by Bharti Airtel, HCL Tech, Reliance Industries, Titan and Asian Paints.

Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan said, "Overall structure shows that the Nifty is still in a short-term consolidation phase and is heading towards the upper end of the range i.e. 17,950 where it is likely to witness selling pressure. On the downside, 17700-17640 will act as a near term support zone."

Foreign institutional investors (FIIs) sold shares worth Rs 1,915 crore on October 5, and domestic institutional investors (DIIs) bought shares worth Rs 1,868 crore, as per provisional data available on NSE.

Global markets

In Hong Kong, the Hang Seng index fell 241 points to 23,857. Australia's S&P/ASX 200 lost 37 points to 7,209. Nikkei lost 278 points to 27,544. On Wall Street, the S&P 500 rose 45 points to 4,345, the Nasdaq gained 178 points to 14,433 and the Dow zoomed 311 points to 34,314.