Sensex, Nifty likely to open higher amid mixed global cues

Indian benchmark indices are likely to open higher as SGX Nifty rose 54 points to 17,966 level 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.

Indian market ended lower for the third consecutive session on Thursday, tracking losses in index majors ICICI Bank, HDFC and SBI.

Sensex closed 433.13 points lower at 59,919 and Nifty fell 143.60 points to 17,873.60. SBI was the top Sensex loser, shedding 2.83 per cent, followed by Bajaj Finserv, Tech Mahindra, Sun Pharma, Bajaj Finance and Axis Bank.

Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan said, "The level of 17,800 indeed acted as a crucial support and will continue to provide support going ahead. As long as the index trades above 17800, it can once again take a leap towards 18,000-18,100. The daily chart shows that the Nifty is witnessing oscillations between the key daily moving averages & the short term consolidation is expected to continue further."

Foreign institutional investors (FIIs) sold shares worth Rs 1,637 crore on November 11, and domestic institutional investors (DIIs) bought shares worth Rs 445 crore, as per provisional data available on NSE.

Global markets Australia's S&P/ASX 200 was trading 73 points higher at 7,455. Nikkei  rose 334 points to 29,612 and Shanghai Composite was trading flat at 3,531. Hang Seng index rose 29 points to 25,281.

On Wall Street, the S&P 500 ended 2 points higher at 4,649, the Nasdaq rose 81 points to 15,704 and the Dow Jones lost 158 points to 35,921.