Sensex Likely To Hit 60,000, Nifty Seen Opening Around 17,850

Foreign institutional investors bought shares worth Rs 358 crore on Thursday while domestic institutional investors bought shares worth Rs 1,173 crore.

Sensex Likely To Hit 60,000, Nifty Seen Opening Around 17,850

The Indian equity benchmarks are set to create new record high in trade today wherein the S&P BSE Sensex is likely to hit 60,000 mark for the first time and Nifty is seen opening around an all-time high of 17,850 as indicated by the Nifty futures traded on the Singapore Exchange. Nifty futures on Singapore Exchange also known as the SGX Nifty futures rose 20 points to 17,849 amid positive cues from other Asian markets. Honk Kong's Hang Seng rose 0.25 per cent, Taiwan Weighted advanced 0.94 per cent while South Korea's KOSPI was trading on a flat note.

Overnight, world stock markets rallied on Thursday and the U.S. dollar retreated from one-month highs as worries faded about contagion from China Evergrande and as investors digested the Federal Reserve's plans for reining in U.S. stimulus.

On Wall Street, the Dow Jones Industrial Average rose 506.5 points, or 1.48 per cent, to 34,764.82, the S&P 500 gained 53.34 points, or 1.21 per cent, to 4,448.98 and the Nasdaq Composite added 155.40 points, or 1.04 per cent, to 15,052.24.

Back home, foreign institutional investors (FIIs) bought shares worth Rs 358 crore on Thursday while domestic institutional investors bought shares worth Rs 1,173 crore.

Dish TV will be in focus after Yes Bank in a letter asked Dish TV to hold the extraordinary general meeting of the shareholders to reconstitute the company's board.

Sansera Engineering shares will make their stock market debut at 10:00 am today. The IPO was subscribed 11.47 times.