Indian benchmark indices are likely to open higher today as SGX Nifty rose 59 points to 18,255 level amid negative 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.
Benchmark indices ended lower on October 27, reversing gains in the last hour of trade.
Sensex tumbled 207 points on Wednesday, weighed by losses in Axis Bank, Reliance Industries and Bajaj Finance amid a weak trend in global markets.
Sensex closed 206.93 points lower at 61,143.33 and Nifty fell 57.45 points to 18,210.95.
Axis Bank was the top Sensex loser, falling 6.52 per cent, followed by Bajaj Finance, Bajaj Finserv, IndusInd Bank, HUL and Tata Steel.
Deepak Jasani, Head of Retail Research at HDFC Securities said, “Nifty lost some steam on October 27 after gaining it on the previous day. However, 18,155 is the crucial support and till it is breached, Nifty has a chance to continue the uptrend. Advance decline ratio ended in the positive but fell from the morning levels, suggesting profit taking in broader markets.”
Foreign institutional investors (FIIs) sold shares worth Rs 1,913 crore on October 27, and domestic institutional investors (DIIs) bought shares worth Rs 472 crore, as per provisional data available on NSE.
Global markets Australia’s S&P/ASX 200 was trading 38 points lower at 7,409. Nikkei lost 272 points to 28,825 and Shanghai Composite fell 33 points to 3,528. Hang Seng was down 88 points to 25,540. On Wall Street, the S&P 500 fell 23 points lower at 4,551, the Nasdaq was flat at 15,235 and the Dow Jones slipped 266 points to 35,490.
