Indian benchmark indices are likely to open higher today as SGX Nifty quoted at 17,177 despite weak 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 Friday, the 30-share index tumbled over 1700 points to hit an intraday low of 56,993.89 and Nifty slipped below 17,000 mark to hit an intraday low of 16,985.70 as rising cases of a new coronavirus variant in South Africa spooked global markets.
Foreign institutional investors (FIIs) sold shares worth Rs 5,785.83 crore on November 26, and domestic institutional investors (DIIs) bought shares worth Rs 2,294.11 crore, as per provisional data available on NSE.
Benchmark equity indices BSE Sensex and NSE Nifty tanked over 4 per cent last week as renewed COVID-19 fears over a new variant found in South Africa spooked sentiment. The 30-share Sensex declined 2,528 points to 57,107 on November 26 from 59,636 on November 18. Likewise, the 50-share Nifty index tumbled 738 points to 17,026 during the week gone by.
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