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Sensex, Nifty likely to open lower amid mixed global cues

September 20, 2021 01:06 PM

Sensex, Nifty likely to open lower amid mixed global cues
Sensex, Nifty likely to open lower amid mixed global cues, Singapore Nifty (SGX Nifty) is the Indian Nifty index that is traded in Singapore Stock Exchange

Sensex, Nifty likely to open lower amid mixed 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.

On September 17, benchmark indices ended lower after scaling record highs as investors booked profits at higher levels. After moving in a range of 866 points during the day, Sensex closed 125.27 points lower at 59,015 and Nifty slipped 44.35 points to 17,585. While Sensex touched lifetime high of 59,737, Nifty reached new peak of 17,792 during the day.

Kotak Bank was the top  Sensex gainer, rising 5.26 per cent, followed by Bharti Airtel, HDFC Bank, Sensex, Nifty likely to open lower amid mixed global cues, Maruti, Axis Bank and Nestle India.

Shrikant Chouhan, Head of Equity Research (Retail) at Kotak Securities said, “For Nifty, 17,700 would be the immediate resistance level traders will have to look at, and below the same, the correction wave is likely to continue up to 17,450-17,350 levels.

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If the index trades above 17,700, the uptrend texture will continue up to 17,800-17,950 levels. Contra traders can take a long bet near 17,350 with a strict 17,300 support stop loss.”

Foreign institutional investors (FIIs) bought shares worth Rs 1,552 crore on September 17, and domestic institutional investors (DIIs) sold shares worth Rs 1,398 crore, as per provisional data available on NSE.

Global markets

Tokyo’s Nikkei 225 rose 176 points to 30,500. In Hong Kong, Hang Seng crashed 1,012 points to 23,905, while the Shanghai Composite index was flat at 3,613. In the US, S&P 500 fell 40 points to 4,432  on Friday. The Dow Jones Industrial Average lost 166 points to 34,584, and the Nasdaq lost 137 points to 15,043.

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