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Sensex, Nifty likely to open higher amid positive global cues

Sensex, Nifty likely to open higher amid positive global cues

Benchmark indices slipped for the third straight session Thursday, tracking losses in IT, consumer durables and metal stocks. Sensex closed 336 points lower at 60,923 and Nifty fell 88 points to 18,178.

Asian Paints was the top Sensex loser, shedding 5.21 per cent, followed by RIL, Infosys, Dr Reddy’s, Tata Steel and TCS. Asian Paints was the top Sensex loser, shedding 5.21 per cent, followed by RIL, Infosys, Dr Reddy’s, Tata Steel and TCS.

Indian benchmark indices are likely to open higher today as SGX Nifty gained 31 points to 18,271 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.

Benchmark indices slipped for the third straight session Thursday, tracking losses in IT, consumer durables and metal stocks. Sensex closed 336 points lower at 60,923 and Nifty fell 88 points to 18,178.

Asian Paints was the top Sensex loser, shedding 5.21 per cent, followed by RIL, Infosys, Dr Reddy's, Tata Steel and TCS.

Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan said, "Nifty is trading near its short-term supports, which can either lead to a minor degree bounce or a sideways action. The downside looks protected at 18,000 from short-term perspective. On the other hand, 18,400-18,500 will be the hurdle zone for a minor degree bounce. Overall, the Nifty is expected to continue with the short-term consolidation."

Foreign institutional investors (FIIs) sold shares worth Rs 2,818 crore on October 21, and domestic institutional investors (DIIs) bought shares worth Rs 428 crore, as per provisional data available on NSE.

Global markets

Australia's S&P/ASX 200 gained 2 points to 7,417. Nikkei rose 183 points to 28,892 and Kospi was trading flat at 3,008. Hang Seng climbed 73 points to 26,088. On Wall Street, the S&P 500 rose 13 points to 4,549, the Nasdaq gained 94 points to 15,215 and the Dow Jones lost 6 points to 35,603.