Pre Open Market Commentary

Indian Markets will likely open firm today. Yesterday, markets ended higher on account of heavy buying interest seen in index pivotals. As a result BSE sensex closed at 13,708.30 up by 236.60 points and Nifty was up by 69.35 points to close at 3940.50. Today, market may witness volatile trade on account of F&O expiry’s week. But global indices may support the indices to stay in positive territory. US market ended higher on Tuesdays. Dow was up by 64.41points to close at 12407.63 and NASDAQ was up by 12.33 points to close at 2413.51. Most of the Asian market point northward journey on Wednesday. The benchmark Nikkei 225 index was up by 68.06 points to 17,237.25. Hong Kong''s Hang Seng Index was up by 235.33 points to 19, 555.85 and Singapore''s STI was advancing 27.59points to 2,970.12. Oil price was down $1.31 at $61.10 a barrel due to expectation of warm weather. Today, Nifty has support at 3,875 and resistance at 3965 and BSE Sensex have support at 13,450 and resistance at 13,850. However, it is our advice to watch trading session carefully. Mutual Funds were net buyers to the tune of Rs 347.90 crores (provisional) in equity on 22nd December 2006.