The Indian equity market is likely to open higher today as SGX Nifty rose 306 points to 16,651. Sensex and Nifty closed higher for the second straight session on Wednesday after exit polls signaled that Bharatiya Janata Party (BJP) looked set to retain power in the key electoral battle of Uttar Pradesh. Sensex ended 1223 points higher at 54,647 and Nifty gained 331 points to 16,345. Asian Paints, Reliance Industries, Bajaj Finance and IndusInd Bank were the top Sensex gainers, rising up to 5.56 per cent.