Sensex, Nifty likely to open higher amid positive global cues

Indian benchmark indices were likely to open higher today as SGX Nifty rose 92 points to 17,645 amid positive global cues.  Asian shares rose after the Federal Reserve signaled it may begin easing its extraordinary support measures for the economy later this year.

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 closed lower on September 21 after a choppy session, tracking losses in HDFC twins, ICICI Bank and Kotak Bank.

Sensex fell 77.94 points to close at 58,927 and Nifty declined 15.35 points to 17,546.

HDFC was the top Sensex loser, shedding 1.46 per cent, followed by Nestle India, ICICI Bank, Kotak Bank and HDFC Bank.

Foreign institutional investors (FIIs) sold shares worth Rs 1,943 crore on September 21, and domestic institutional investors (DIIs) bought shares worth Rs 1,850 crore, as per provisional data available on NSE.

Global markets

In Hong Kong, the Hang Seng index gained 2% to 24,745.96. The Shanghai Composite index added 0.6% to 3,651.27. Australia's S&P/ASX 200 surged 1% to 7,368.40. South Korea's Kospi dropped 0.7% to 3,117.99.

On Wall Street, the S&P 500 rose 1%, breaking a four-day losing streak. The Dow Jones Industrial Average rose 1% to 34,258.32. The blue-chip index briefly surged 520 points higher. The Nasdaq composite gained 1% to 14,896.85.