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Sensex, Nifty likely to open lower amid weak global cues

Sensex, Nifty likely to open lower amid weak global cues

On August 13, equity benchmark Sensex rallied 593 points to end above the 55,000-mark for the first time and Nifty advanced 164 points or 1.01 per cent to its fresh closing peak of 16,529

Tracking Sensex, Nifty today Tracking Sensex, Nifty today

Indian benchmark indices were likely to open lower today as SGX Nifty was fell 50 points to 16,478. 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 August 13, equity benchmark Sensex rallied 593 points to end above the 55,000-mark for the first time and Nifty advanced 164 points or 1.01 per cent to its fresh closing peak of 16,529.

The 30-share index rose 593 points or 1.08 per cent to its new all-time high of 55,437. It touched an record high of 55,487 intra day.

Sameet Chavan, Chief Analyst, Technical and Derivatives, Angel Broking said, "As far as levels are concerned, the sacrosanct support is placed at 16,200 - 16,170 before which 16,400 - 16,300 are to be considered as immediate levels. On the upside, it's hard to project any level as we have entered an uncharted territory. Still, every 100 points rally from hereon should be treated as the upside range."

Foreign institutional investors (FIIs) bought shares worth Rs 819.77 crore on August 13 and DIIs lapped up shares worth Rs 149.5 crore, as per provisional data available on NSE.

Global markets

Japan’s Nikkei fell 2.07% or 617 points, though economic growth topped forecasts for the June quarter.

 Hang Seng was down 0.42% or 110 points and Taiwan T Sec Index fell 0.88% or 150 points.

Nasdaq futures and S&P 500 futures were both down 0.2%. EUROSTOXX 50 futures fell 0.4% and FTSE futures 0.6%.

Published on: Aug 16, 2021, 8:40 AM IST
Posted by: Aseem Thapliyal, Aug 16, 2021, 8:32 AM IST