INDIAN BENCHMARKS are likely to witness cautious opening as the global cues look mixed with SGX Nifty trading 9 points lower. Indian equity benchmarks may open slightly lower on Wednesday tracking a renewed rout in global equities as falling crude oil prices soured risk taking appetite, whilst caution ahead of the Railway Budget and Economic Survey due this week and the Union Budget on Monday, may also prompt Dalal Street traders to stay on the sidelines. The NSE Nifty fell on Tuesday, posting its first drop after four sessions of gains, as investors turned jittery ahead of next week's Union Budget, with a reversal in oil prices putting further pressure on the market. The S&P BSE Sensex and CNX Nifty ended 1.59%-1.73% lower each. On Tuesday, February 23, 2016, 30-share BSE SENSEX closed at 23410.18, down by 378.61 points, or by 1.59 per cent, and the NSE Nifty ended at 7109.55, down by 125 points, or by 1.73 per cent.
Trend in FII flows:
The FIIs were net sellers of Rs -289.66 Cr in the cash segment on Tuesday while the DIIs were net buyers of Rs 257.93 Cr, as per the provisional figures released by the NSE.