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Sensex, Nifty likely to open lower amid mixed global cues

Sensex, Nifty likely to open lower amid mixed global cues

On Monday, benchmark indices ended higher amid a positive trend in global equities. Sensex closed 363 points higher at 52,950 and Nifty surged 122 points to 15,885.

 On Monday, benchmark indices ended higher amid a positive trend in global equities. Sensex closed 363 points higher at 52,950 and Nifty surged 122 points to 15,885. On Monday, benchmark indices ended higher amid a positive trend in global equities. Sensex closed 363 points higher at 52,950 and Nifty surged 122 points to 15,885.

Indian benchmark indices were likely to open lower today as SGX Nifty fell 49 points or 0.31 per cent at 15,865.

Singapore Nifty (SGX Nifty) is the Indian Nifty index that is traded in Singapore Stock Exchange. It is considered to be the first indication of the Indian markets opening.

On Monday, benchmark indices ended higher amid a positive trend in global equities. Sensex closed 363 points higher at 52,950 and Nifty surged 122 points to 15,885.

Titan was the top Sensex gainer, rising 3.25 per cent, followed by M&M, Reliance Industries, Axis Bank, TCS, Maruti and Infosys.

Commenting on the technical outlook of Nifty, Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities said, "The daily intraday charts suggest the market is consolidating near the important resistance level of 15,900. The strong breakout formation is not ruled out, if the index succeeds to trade above 20 day SMA or 15,800. Above the same, the uptrend texture is likely to continue up to 15,930-15,975 levels. On the flip side, a close below 20 day SMA may increase further selling pressure till 15,745-15,700."

Foreign institutional investors (FIIs) emerged as net sellers as they sold shares worth Rs 1,539.88 crore on August 2 and DIIs bought shares worth Rs 1,505 crore, as per provisional data available on the NSE.

Global markets

Asian markets were trading on a mixed note today. Nikkei 225 index dipped 0.71 percent, or 195.98 points, to 27,585.04. Hang Seng gained 0.20 percent, or 53.26 points, to 26,289.06. Shanghai Composite Index dipped 0.51 percent, or 17.50 points, to 3,446.78.

S&P 500 fell 8.10 points to 4,387.16. The Dow Jones Industrial Average dropped 97.31 points, or 0.3%, to 34,838.16, while the Nasdaq composite added 8.39 points, or 0.1%, to 14,681.07. The Russell 2000 index of smaller companies lost 10.75 points, or 0.5%, to 2,215.50.