Indian benchmark indices are likely to open higher today as SGX Nifty quoted at 17,576 at 8:30 am.
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.
Indian market closed higher for the second consecutive session on Wednesday, backed by gains in banking, auto and IT shares amid positive global cues. Sensex ended 1,016 points higher at 58,649 and Nifty surged 293 points to 17,469.
Bajaj Finance, Maruti,SBI and Bajaj Finserv were the top Sensex gainers, rising up to 3.62%. Kotak Bank and Power Grid were the only losers on Sensex, falling up to 0.85%.
Vinod Nair, Head of Research at Geojit Financial Services, said, "Fears over Omicron faded as recent reports suggested that the new virus isn't deadly as earlier anticipated and this helped the market to add-on to recent strong gains. The market turned positive over RBI's continued accommodative stance and MPC kept the rates unchanged. The GDP forecast for FY22 remained high at 9.5% showing confidence over economic recovery and inflation forecast is below the market estimates."
Foreign institutional investors (FIIs) sold shares worth Rs 579.27 crore on December 8, and domestic institutional investors (DIIs) bought shares worth Rs 1,735.50 crore, as per provisional data available on NSE.
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