SGX Nifty indicates a negative start for Sensex, Nifty

The Indian equity market is likely to open lower today as SGX Nifty fell 25 points to 18,027. Singapore Nifty (SGX Nifty) is the Indian Nifty index that is traded in the Singapore Stock Exchange and is considered to be the first indication of the opening of the Indian market.

The rising number of Covid-19 and Omicron cases in India and the world will dictate the course of the stock market this year, say experts.

On Monday, benchmark indices closed higher for the second consecutive session as participants showed keen interest in IT and financial shares ahead of the Q3 earnings season. Sensex closed 650.98 points higher at 60,395 and Nifty climbed 190.60 points to end at 18,003.30. Titan, Maruti, SBI, L&T, HDFC and Kotak Bank were the top Sensex gainers, rising up to 3.29%.

Wipro, Nestle India, Asian Paints and PowerGrid were among the top Sensex losers, falling up to 2.47%

Foreign institutional investors (FIIs) sold shares worth Rs 124 crore on January 10, and domestic institutional investors (DIIs) bought shares worth Rs 481 crore, as per provisional data available on NSE.

Global markets

In Asia, Kospi was trading 7 points lower at 2,920. Nikkei fell 247 points to 28,231 and Hang Seng index was flat at 23,744. On Wall Street, the S&P 500 fell 6 points to 4,670. The Dow slipped 162 points to 36,068. The Nasdaq composite gained lost 7 points to 14,942.