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Sensex, Nifty likely to open higher amid positive global cues

Sensex, Nifty likely to open higher amid positive global cues

Equity market ended higher for the fifth consecutive session on Wednesday, tracking gains in Reliance Industries, ITC and Infosys amid a positive trend in global markets

M&M was the top Sensex gainer, zooming 5.17 per cent, followed by PowerGrid, ITC, L&T, Tech Mahindra, Titan and Tata Steel. M&M was the top Sensex gainer, zooming 5.17 per cent, followed by PowerGrid, ITC, L&T, Tech Mahindra, Titan and Tata Steel.

Indian benchmark indices are likely to open higher today as SGX Nifty gained 80 points to 18,258  level amid positive 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.

Equity market ended higher for the fifth consecutive session on Wednesday, tracking gains in Reliance Industries, ITC and Infosys amid a positive trend in global markets.

Sensex  ended 452.74 points or 0.75 per cent higher to a new closing peak at 60,737.05 and Nifty rallied 169.80 points or 0.94 per cent to 18,161.75.

Sensex and Nifty logged record highs of 60,836.63 and 18,197.80 during the session.

M&M was the top Sensex gainer, zooming 5.17 per cent, followed by PowerGrid, ITC, L&T, Tech Mahindra, Titan and Tata Steel.

Ruchit Jain, Senior Analyst - Technical and Derivatives, Angel One said, "The immediate support for the index is now placed in the range of 18,050-18,000 while 18,300 would be the level to watch on the higher side.

The stock specific momentum continues to be buzzing and is providing good trading opportunities for short term as well as day traders. Hence, we continue with our advice to look for sector/stock specific approach for short term opportunities."

Foreign institutional investors (FIIs) bought shares worth Rs 937.31 crore on October 13, and domestic institutional investors (DIIs) offloaded shares worth Rs 431.72 crore, as per provisional data available on NSE.

Global markets

Australia's S&P/ASX 200 gained 71.4 points to 7,343. Nikkei rose 285 points to 28,425 and Kospi climbed 34 points to 2,978. On Wall Street, the S&P 500 gained 13 points to 4,363, the Nasdaq rose 105 points to 14,571 and the Dow Jones closed flat at 34,377.