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Sensex, Nifty likely to open lower amid negative global cues

Sensex, Nifty likely to open lower amid negative global cues

Sensex rose 77 points to end at a record closing high of 60,136 on Monday, tracking gains in index heavyweights HDFC Bank, ICICI Bank, and ITC

Maruti was the top gainer on Sensex, advancing nearly 4 per cent, followed by PowerGrid, ITC, NTPC, SBI, M&M, Kotak Bank, and HDFC Bank. Maruti was the top gainer on Sensex, advancing nearly 4 per cent, followed by PowerGrid, ITC, NTPC, SBI, M&M, Kotak Bank, and HDFC Bank.

Indian benchmark indices are likely to open lower today as SGX Nifty fell 50 points to 17,881 level amid negative 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.

Sensex rose 77 points to end at a record closing high of 60,136 on Monday, tracking gains in index heavyweights HDFC Bank, ICICI Bank, and ITC. Nifty gained 50.75 points or 0.28 per cent to its all-time closing high of 17,945.95. It touched a new peak of 18,041.95 intra day.

Maruti was the top gainer on Sensex, advancing nearly 4 per cent, followed by PowerGrid, ITC, NTPC, SBI, M&M, Kotak Bank, and HDFC Bank. Of the 30 Sensex shares, 20 ended higher.

Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan said, "If Nifty manages to cross the level of 18,000 on a closing basis then the consolidation will be considered to have broken on the upside and the index will then be set for a significant upside. However, failure to cross 18,000 on a closing basis would keep the index in the short-term consolidation phase. The key hourly moving averages, which are currently near 17,900 - 17,850 will continue to act as an immediate cushion on the downside."

Foreign institutional investors (FIIs) sold shares worth Rs 1,303 crore on October 11, and domestic institutional investors (DIIs) offloaded shares worth Rs 373.28 crore, as per provisional data available on NSE.

In Hong Kong, the Hang Seng index was down 181 points to 25,140. Australia's S&P/ASX 200 declined 30 points to 7,270. Nikkei fell 265 points to 28,232. On Wall Street, the S&P 500 lost 30 points to 4,361, the Nasdaq was down 93 points to 14,486 and the Dow fell 250 points to 34,496.