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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 market snapped three-day losing streak on November 12 backed by gains in IT and capital goods stocks. Sensex ended 767 points higher at 60,686 and Nifty rose 229 points to 18,100.

Tech Mahindra was the top Sensex gainer, rising 4.06 per cent, followed by HDFC, Infosys , Bajaj Finserv, Bharti Airtel and Asian Paints. Tech Mahindra was the top Sensex gainer, rising 4.06 per cent, followed by HDFC, Infosys , Bajaj Finserv, Bharti Airtel and Asian Paints.

Indian benchmark indices are likely to open higher as SGX Nifty rose 66 points to 18,206 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 market snapped three-day losing streak on November 12 backed by gains in IT and capital goods stocks. Sensex ended 767 points higher at 60,686 and Nifty rose 229 points to 18,100.

Tech Mahindra was the top Sensex gainer, rising 4.06 per cent, followed by HDFC, Infosys , Bajaj Finserv, Bharti Airtel and Asian Paints. Bajaj Auto, Tata Steel, Axis Bank and NTPC were among the top Sensex losers, falling up to 3.04%.

Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities said, "The short-term support has shifted from 17,850 to 18,000 level. For the trend following traders, 18,000 would be the sacrosanct level. As long as the index is trading above the same, the uptrend wave will continue up to 18,200-18,400 while on the other hand, a close below 18000 could increase further weakness till 17,850-17,650."

Foreign institutional investors (FIIs) bought shares worth Rs 511 crore on November 12, and domestic institutional investors (DIIs) bought shares worth Rs 851 crore, as per provisional data available on NSE.

Global markets

Australia's S&P/ASX 200 was trading 22 points higher at 7,465. Nikkei  rose 144 points to 29,754 and Shanghai Composite was trading flat at 3,528. Hang Seng index fell 76 points to 25,251. On Wall Street, the S&P 500 ended 33 points higher at 4,682, the Nasdaq rose 156 points to 15,860 and the Dow Jones gained 179 points to 36,100.

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