Sensex, Nifty likely to open higher amid positive global cues
Indian benchmark indices are likely to open on a positive note today as SGX Nifty quoted at 17,165.80 (up 106.8 points) at 8:40 am.
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.
Benchmark indices closed higher for the third consecutive session on Thursday, amid positive global cues. Sensex ended 384 points higher at 57,512 and Nifty advanced 117 points to 17,072.
PowerGrid, ITC, Bajaj Finance, Infosys and NTPC were the top Sensex gainers, rising up to 3.40 per cent. On the other hand, Airtel, Sun Pharma and Maruti were the top Sensex losers, falling up to 093%.
Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities said, “For the traders, 17,000 would now be the sacrosanct support level and above the same, the uptrend formation will continue up to 17150-17200 levels. On the other hand, below the psychological 17000 support level, the Nifty could correct up to 16930-16850.”
Foreign institutional investors (FIIs) sold shares worth Rs 271.59 crore on December 23, and domestic institutional investors (DIIs) bought shares worth Rs 1,196.48 crore, as per provisional data on NSE.