India's benchmark indices likely to open higher today

Indian benchmark indices are likely to open higher today as SGX Nifty gained 35 points to 18,354 level amid positive global cues.

Singapore Nifty SGX Nifty is the Indian Nifty index that is traded on the Singapore Stock Exchange and considered to be the first indication of the Indian markets opening.

Equity market slipped for the second straight session on Wednesday as investors booked profits at higher levels.

Sensex closed 456.09 points or 0.74 per cent lower at 61,259. 96 and Nifty fell 152.15 points or 0.83 per cent to 18,266. Titan was the top Sensex loser, shedding nearly 3 per cent, followed by HUL, NTPC, Bajaj Finserv, L&T and PowerGrid.

Gaurav Ratnaparkhi, Head of Technical Research at Sharekhan said: If 18,200 is breached on the downside, then the index can tumble towards the crucial 18,000 mark. The level of 18,000, which previously acted as resistance, will now pose as support as per the principle of role reversal. On the flip side, any minor degree bounce is likely to stumble near 18,400 - 18,450. Overall, the Nifty is expected to stay in a short term consolidation. Domestic institutional investors FIIs sold shares worth Rs 1,843 crore on October 20 and foreign institutional investors DIIs offloaded shares worth Rs 1,680 crore, as per provisional data available on NSE.

Australia's S&P ASX 200 gained 24 points to 7,438. Nikkei fell 93 points to 29,161 and Kospi was trading 10 points higher at 3,022. Hang Seng climbed 43 points to 26,180.

On Wall Street, the S&P 500 rose 16 points to 4,536, the Nasdaq lost 7 points to 15,121 and the Dow Jones rose 152 points to 35,609.