Share Market Live: Sensex, Nifty likely to open higher amid mixed global cues

The Indian equity market is likely to open higher today as SGX Nifty rose 68 points to 17,928. On Friday, Sensex climbed 143 points to 59,744 and Nifty gained 66 points to 17,812 amid mixed global cues. Asian Paints, TCS, Nestle India and UltraTech Cement were the top Sensex gainers, rising up to 1.79%. Of 30 Sensex shares, 15 ended higher.

Here's a look at the updates of the market action on BSE and NSE today.

9: 05 am: Expert comment

Santosh Meena, Head of Research, Swastika Investmart Ltd, said COVID cases are surging sharply across the world. However, the market is complacent about it as the hospitalisation and mortality rate is very low. "Market will continue to have an eye on development regarding the third wave."

Meena added that on the global front, rising crude oil prices could be a cause of concern while inflation numbers from China and retail sales numbers from the USA will be other important factors.

9: 00 am: Earnings effect on market

"IT majors like Infosys, TCS, Wipro, HCL Tech and Mindtree would announce their numbers. Besides, banking heavyweight HDFC Bank result is also scheduled. On the macroeconomic front, participants will be eyeing IIP, CPI Inflation and WPI Inflation data also during the week. Amid all, global cues and updates on the COVID situation would remain on the participants' radar," said Ajit Mishra, VP Research, Religare Broking.

8: 40 am: Global markets

In Asia, Kospi was trading 32 points lower at 2,921. Nikkei fell 9 points to 28,478 and Hang Seng index rose 215 points to 23,712. On Wall Street, the S&P 500 fell 19 points to 4,677. The Dow slipped 4 points to 36,231. The Nasdaq composite lost 144 points to 14,935.

8:10 am: FIIs in action

Foreign institutional investors (FIIs) bought shares worth Rs 496.27 crore on January 7, and domestic institutional investors (DIIs) sold shares worth Rs 115 crore, as per provisional data available on NSE.

8:00 am: Previous session updates

Benchmark indices closed higher on Friday, led by gains in Reliance Industries, TCS and ICICI Bank amid a mixed trend in global markets. Sensex ended 142.81 points higher at 59,744.65 and Nifty rose 66.80 points to close at 17,812.

Asian Paints was the top Sensex gainer rising 1.79% followed by TCS, Nestle India, Ultratech Cement, ICICI Bank and Reliance Industries.

Bajaj Finserv, M&M, Bajaj Finance, HDFC and Titan were among top Sensex losers, falling up to 1.39%.