SGX Nifty indicates a positive start for Sensex, Nifty

The Indian equity market is likely to open higher today as SGX Nifty rose 68 points to 17,928. Singapore Nifty (SGX Nifty) is the Indian Nifty index that is traded in the Singapore Stock Exchange and is considered to be the first indication of the opening of the Indian market.

The rising number of Covid-19 and Omicron cases in India and the world will dictate the course of the stock market this year, say experts.

On Friday, benchmark indices closed higher, led by gains in Reliance Industries, TCS and ICICI Bank amid a mixed trend in global markets. Sensex ended 142.81 points higher at 59,744.65 and Nifty rose 66.80 points to close at 17,812.

Asian Paints was the top Sensex gainer rising 1.79% followed by TCS, Nestle India, Ultratech Cement, ICICI Bank and Reliance Industries. Bajaj Finserv, M&M, Bajaj Finance, HDFC and Titan were among top Sensex losers, falling up to 1.39%.

Foreign institutional investors (FIIs) bought shares worth Rs 496.27 crore on January 7, and domestic institutional investors (DIIs) sold shares worth Rs 115 crore, as per provisional data available on NSE.

Global markets

In Asia, Kospi was trading 32 points lower at 2,921. Nikkei fell 9 points to 28,478 and Hang Seng index rose 215 points to 23,712. On Wall Street, the S&P 500 fell 19 points to 4,677. The Dow slipped 4 points to 36,231. The Nasdaq composite lost 144 points to 14,935.