Indian benchmark indices are likely to open higher today as SGX Nifty rose 66 points to 17,782 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 ended lower for the third straight session on Friday amid negative global cues. Sensex plunged 677.77 points or 1.13 per cent to close at 59,306.93.
Nifty fell 185.60 points or 1.04 per cent to 17,671.65. Tech Mahindra was the top Sensex loser, falling 3.53 per cent, followed by NTPC, IndusInd Bank, Kotak Bank and Reliance Industries.
Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities said, "The weekly trading set up suggests 17,800 would be the immediate hurdle for Nifty. If it succeeds to trade above the same, we can expect a pullback rally up to 17,920-18,000-18,070. On the flip side, below 17,800, the correction wave may continue up to 17,600-17,500-17,420 levels."
Foreign institutional investors (FIIs) sold shares worth Rs 5,142 crore on October 29, and domestic institutional investors (DIIs) bought shares worth Rs 4,342 crore, as per provisional data available on NSE.
Australia's S&P/ASX 200 was trading 60 points lower at 7,370. Nikkei rose 645 points to 29,538 and Shanghai Composite was flat at 3,548. Hang Seng was down 336 points to 25,042. On Wall Street, the S&P 500 ended 44 points higher at 4,596, the Nasdaq rose 50 points at 15,498 and the Dow Jones climbed 89 points to 35,819.
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