Indian benchmark indices were likely to open lower today as SGX Nifty fell 21 points to 17,540 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.
On September 21, benchmark indices closed at record highs led by gains in Infosys, Bajaj Finance and ITC. The 30-share Sensex ended 514.34 points or 0.88 per cent higher at 59,005.27 and the NSE Nifty zoomed 165.10 points or 0.95 per cent to 17,562. Of 30 Sensex shares, 24 ended in the green.
Bajaj Finance was the top gainer in the Sensex pack, rising around 5 per cent, followed by IndusInd Bank, Tata Steel, ITC, Bajaj Finserv, Tech Mahindra and Infosys.
Nagaraj Shetti, Technical Research Analyst, HDFC Securities said, "The market seems to have reversed up surprisingly after a short period of downward correction. This pattern indicates a strength of present upside momentum and emergence of buying after a small dips. The present upside bounce from initial moving average support could signal possibility of more upside towards 17800 levels in the next few sessions. Immediate support is placed at 17425 levels."
Foreign institutional investors (FIIs) bought shares worth Rs 1,041.92 crore on September 21, and domestic institutional investors (DIIs) bought shares worth Rs 2,167 crore, as per provisional data available on NSE.
Tokyo’s Nikkei 225 index lost 0.6% to 29,665.42, while the Shanghai Composite index declined 0.8% to 3,585.24. Australia’s S&P/ASX 200 gained 0.5% to 7,310.10. Shares fell 2.4% in Taiwan and also declined in Singapore. But benchmarks rose in Indonesia and Malaysia.
In the US, S&P 500 fell 3.54 points to 4,354.19, while the Dow Jones Industrial Average dropped 50.63 points to 33,919.84. The Nasdaq composite rose 0.2% to 14,746.49.
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