SGX Nifty indicates a positive start for Sensex, Nifty

The Indian equity market is likely to open higher today as SGX Nifty rose 88 points to 18,319. 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 Wednesday, the Indian equity market closed in the green for the fourth consecutive session ahead of the Q3 earnings season. Sensex rose 533 points to 61,150 and Nifty ended 156 points higher at 18,212. M&M, Bharti Airtel and RIL were the top Sensex gainers, rising up to 4.68%.

TCS, Titan, HDFC Bank, Tech Mahindra, and Wipro were among the top Sensex losers, falling up to 1.50%.

Foreign institutional investors (FIIs) sold shares worth Rs 1,001 crore on January 12, and domestic institutional investors (DIIs) lapped up shares worth Rs 1,332 crore, as per provisional data available on NSE.

Global marketsIn Asia, Kospi was trading flat at 2,967. Nikkei fell 247 points to 28,517 and Hang Seng index rose 67 points to 24,469. On Wall Street, the S&P 500 climbed 13 points to 4,726. The Dow gained 38 points to 36,290. The Nasdaq composite gained 34.94 points to 15,188.