Sensex, Nifty likely to open lower amid weak global cues

Indian benchmark indices are likely to open on a negative note today as SGX Nifty declined 98 points to 17,390 level amid weak 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 equity market closed lower for the fourth consecutive trading session on Monday, dragged by losses in Reliance Industries, Bajaj Finance and Kotak Bank.

Sensex ended 1,170.12 points lower at 58,465 and Nifty fell 348.25 points to 17,416.

Investors lost Rs 8.22 lakh crore during today's market crash. Market cap of the BSE-listed firms fell to Rs 260.98 lakh crore against Rs 269.20 lakh crore in the previous session.

Bajaj twins, Reliance Industries, NTPC, SBI and Titan were the top Sensex losers, falling up to 5.74%.

Reliance Industries shares fell nearly 5% intra day after the Mukesh Ambani-led conglomerate said last week it had decided with Saudi Aramco to reevaluate a proposed $15 billion stake sale in its oil-to-chemicals arm to the Saudi oil producer.

Foreign institutional investors (FIIs) sold shares worth Rs 3,438.76 crore on November 22, and domestic institutional investors (DIIs) bought shares worth Rs 2,051.18 crore, as per provisional data available on NSE.