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Sensex, Nifty likely to open higher amid mixed global cues

Sensex, Nifty likely to open higher amid mixed global cues

The market closed lower for the fourth straight session on October 22 despite holding on to opening gains in the first half of trading session.

ITC was the top Sensex loser, shedding 3.39%, followed by Maruti, Infosys, NTPC and HCL Tech. ITC was the top Sensex loser, shedding 3.39%, followed by Maruti, Infosys, NTPC and HCL Tech.

Indian benchmark indices are likely to open higher today as SGX Nifty gained 88 points to 18,232 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.

Indian equity market ended in the red on Friday, tracking losses in metal, IT and healthcare shares.

The market closed lower for the fourth straight session on October 22 despite holding on to opening gains in the first half of trading session.

Sensex closed 101 points lower at 60,821 and Nifty fell 63 points to 18,114.

ITC was the top Sensex loser, shedding 3.39%, followed by Maruti, Infosys, NTPC and HCL Tech. HDFC, Bajaj Auto, IndusInd, Kotak Bank and Axis Bank were among the top Sensex gainers, rising up to 2.25 per cent.

Shibani Kurian, Senior EVP & Head- Equity Research, Kotak Mahindra Asset Management Company said, "Going forward, market direction would likely be determined among other factors by a) demand momentum in the festive season b) movement in commodity inflation and c) mobility trends. Commentary of companies that are yet to report results of Q2FY22 and institutional flows should be other factors to watch out for market participants."

Foreign institutional investors (FIIs) sold shares worth Rs 2,697 crore on October 22, and domestic institutional investors (DIIs) bought shares worth Rs 1,029 crore, as per provisional data available on NSE.

Global markets

Australia's S&P/ASX 200 gained 27  points to 7,443. Nikkei fell 288 points to 28,8520 and Kospi was trading flat at 3,011. Hang Seng climbed 33 points to 26,155. On Wall Street, the S&P 500 ended flat at 4,544, the Nasdaq lost 125 points to 15,090 and the Dow Jones added 74 points to 35,677.