After 3 Consecutive Falls, Sensex, Nifty Likely to Open Higher on Monday

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After 3 Consecutive Falls, Sensex, Nifty Likely to Open Higher on Monday

By Malvika Gurung

Investing.com -- After ending on a choppy note on Friday, the Indian market is expected to open at a positive-to-high note on Monday, as the Nifty 50 Futures listed on the Singapore-based Exchange SGX was found trading 30.5 points higher, or 0.17% up at 17,780.50 on 8:15 am, an indicator of a positive start on D-Street.

Backed on selling pressures created by foreign investors amid indications of central banks to begin draining liquidity from the system soon, the Indian benchmark indices tumbled for the third consecutive sessions on Oct 29, 2021, with Sensex falling 677.77 points or 1.1% to 59,306.93, while Nifty by 185.60 points or 1.04% to 1,7,671.70.

Benchmarks for Asian markets opened at a mixed note on Monday’s session, as the Asia-Pacific stocks outside Japan (MSCI'S broadest index) declined by 0.97% or 6.33 points to 647.46, while Japan’s Nikkei 225 was trading at gains of 2.21% at 8:20 am.

South Korea’s KOSPI 50 was trading marginally higher by 0.46%, while China's Shanghai Composite also gained 0.056% or 1.99 points.

Wall Street ended higher on Friday, with decent gains pushing the major indices to all-time highs.

The three main US indices, Dow Jones , S&P 500 , and Nasdaq Composite ended at gains of 0.25%, 0.19%, and 0.33% on Friday, respectively.

 

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