Indian benchmark indices are likely to open lower today as SGX Nifty fell 24 points to 17,877 level amid negative 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.
Benchmark indices plunged nearly 2% on Thursday, following an across-the board selloff, as monthly derivatives expired amid a weak trend in global markets.
Sensex lost 1,158 points or 1.89% to close at 59,984 and Nifty dropped 353.70 points or 1.94 per cent to 17,857. ITC was the top Sensex loser with a loss of over 5 per cent, followed by ICICI Bank, Kotak Bank, Axis Bank, SBI and HDFC Bank.
IndusInd Bank, L&T, UltraTech Cement and Asian Paints were among the top Sensex gainers, rising to 2.94%.
Sharekhan said, On the way down, Nifty has broken the crucial 18,000 mark and has now reached the lower end of a falling channel on the hourly chart. Going ahead, 17,750 - 17,700 is a key support zone, which can attract buying support. The overall structure shows that the short-term range for Nifty has shifted lower and it is now expected to trade in the range of 17,700 - 18,200 over the next few sessions. Domestic institutional investors FIIs bought shares worth Rs 3,818 crore on October 28 and foreign institutional investors DIIs sold shares worth Rs 836 crore, as per provisional data available on NSE.
Australia's S&P ASX 200 was trading lower by 60 points at 7,370. Nikkei lost 27 points to 28,792 and Shanghai Composite was flat at 3,518. Hang Seng was down 178 points to 25,375. On Wall Street, the S&P 500 was higher at 4,596, the Nasdaq rose 212 points at 15,448 and the Dow Jones climbed 239 points to 35,730.