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Sensex, Nifty likely to open higher amid positive global cues

Sensex, Nifty likely to open higher amid positive global cues

On September 2, benchmark indices resumed their bull March after a single-session pause to close at record highs. Sensex ended 514 points higher at 57,852 and Nifty jumped 157 points to 17,234

TCS was the top  Sensex gainer, rising 3.34 per cent, followed by HUL, UltraTech Cement, Nestle India, Kotak Bank, Dr Reddy's and Titan. TCS was the top Sensex gainer, rising 3.34 per cent, followed by HUL, UltraTech Cement, Nestle India, Kotak Bank, Dr Reddy's and Titan.

Indian benchmark indices were likely to open in the green today as SGX Nifty was trading 25 points higher at 17,284 amid positive 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 2, benchmark indices resumed their bull March after a single-session pause to close at record highs. Sensex ended 514 points higher at 57,852 and Nifty jumped 157 points to 17,234.

TCS was the top  Sensex gainer, rising 3.34 per cent, followed by HUL, UltraTech Cement, Nestle India, Kotak Bank, Dr Reddy's and Titan.

Nagaraj Shetti, Technical Research  Analyst, HDFC Securities said, "Nifty on the weekly chart formed a long bull candle as of now (one more sessions to go). This pattern indicate a decisive upside breakout of small range movement of the last few weeks. The short term trend of Nifty is strong and the broad market indices were also in driver's seat. One may expect further upside in the next 1-2 sessions, before showing another round of consolidation or minor profit booking from the new highs. The next upside levels to be watched around 17500 and immediate support is placed at 17150."

Foreign institutional investors (FIIs) bought shares worth Rs 348.52 crore on September 2 and DIIs lapped up shares worth Rs 381.7 crore, as per provisional data available on NSE.

Global markets

The S&P 500 rose 12.86 points, or 0.3%, to 4,536.95, topping a record set on Monday. The Dow Jones Industrial Average rose 131.29 points, or 0.4%, to 35,443.82. The Nasdaq rose 21.80, or 0.1%, to 15,331.18, also setting a record.

The Shanghai Composite Index was flat at 3,592 and the Nikkei 225 in Tokyo advanced 243 points to 28,787. Hang Seng in Hong Kong fell 86 points to 26,004.

The Kospi in Seoul was up 19 points to 3,195 and Sydney's S&P-ASX 200 gained 37 points to 7,522.70.

Published on: Sep 03, 2021, 8:36 AM IST
Posted by: Aseem Thapliyal, Sep 03, 2021, 8:31 AM IST