SGX Nifty quoted at 17,318, down 143 points at 8:40 am, and Indian benchmark indices are likely to open lower today.
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 opening of the Indian markets.
On Tuesday, the benchmark indices closed lower due to losses in consumer durables and auto products shares, as well as a negative trend in global markets.
Sensex fell 166 points to 58,117 and Nifty fell 43 points to 17,324. ITC was the leading Sensex loser, falling 2.73 per cent, followed by Bajaj Finance, Kotak Bank, Bharti Airtel and RIL.
Nagaraj Shetti, Technical Research Analyst, HDFC Securities said, The market showing consolidation movement on Tuesday, the post bearish pattern of Monday could signal a possibility of a sustainable upside bounce back in the coming sessions. The resistances to be watched around 17,500 and next 17,650 levels are important. Immediate support is placed at 17200 levels. Domestic institutional investors DIIs bought shares worth Rs 425.43 crore, as per provisional data available on the NSE, which sold shares worth Rs 763.18 crore on December 14 and foreign institutional investors FIIs bought shares worth Rs 425.43 crore.