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Sensex, Nifty likely to open higher amid mixed global cues

Sensex, Nifty likely to open higher amid mixed global cues

Indian equity market ended lower on Tuesday, tracking losses in market heavyweights such as Reliance Industries, Tata Steel and ICICI Bank amid a muted trend in global markets.

Tata Steel was the top Sensex loser, falling around 3.74 per cent, followed by Tech Mahindra, HCL Tech, IndusInd Bank and Reliance Industries Tata Steel was the top Sensex loser, falling around 3.74 per cent, followed by Tech Mahindra, HCL Tech, IndusInd Bank and Reliance Industries

Indian benchmark indices are likely to open higher today as SGX Nifty was trading 28 points higher at 17,951 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 lower on Tuesday, tracking losses in market heavyweights such as Reliance Industries, Tata Steel and ICICI Bank amid a muted trend in global markets.

Sensex closed 109.40 points or 0.18 per cent lower at 60,029.06. Nifty lost 40.70 points or 0.23 per cent to 17,888.95.

Tata Steel was the top Sensex loser, falling around 3.74 per cent, followed by Tech Mahindra, HCL Tech, IndusInd Bank and Reliance Industries. Maruti, NTPC, Titan, SBI and L&T were among the top Sensex gainers, climbing up to 2.36%.

Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas said," In terms of the level, the 18,000 mark acted as a key barrier. Though that level was crossed on an intraday basis the index couldn't sustain in the higher territory and closed below it. If the bulls manage to cross that hurdle on a closing basis, then the short term range will shift higher. On the flip side, failure to cross that level will keep the short-term consolidation confined within the range of 17,600-18,000."

Foreign institutional investors (FIIs) bought shares worth Rs 244 crore on November 2, and domestic institutional investors (DIIs) sold shares worth Rs 6 crore, as per provisional data available on NSE.

Global markets

Australia's S&P/ASX 200 was trading 71 points higher at 7,396. Nikkei fell 126 points to 29,520 and Shanghai Composite fell 4 points at 3,501.

Hang Seng index was down 202 points to 24,901. On Wall Street, the S&P 500 ended 17 points higher at 4,630, the Nasdaq rose 53 points at 15,649 and the Dow Jones climbed 138 points to 36,052.

Published on: Nov 03, 2021, 8:58 AM IST
Posted by: Aseem Thapliyal, Nov 03, 2021, 8:53 AM IST