Indian market is likely to open on firm note today on back of positive global cues as well as yesterday''s momentum. Yesterday, markets ended higher on account of heavy buying in Metal, capital goods, Bank and FMCG stocks. As a result, BSE sensex closed at 13049.35 up by 469.60 points and Nifty was up by 134.80 points to close at 3761.65. The outlook for the market is guarded optimism.
Thursday, US markets closed higher on back of strong gains in global stock markets fed hopes that equities have stabilized after recent massive selloffs. Dow closed up 68.25 points at 12,260.70 and the NASDAQ closed up 13.09 points at 2,387.73
Indian ADRs closed in green. In technology sector, Infosys up by 2.93%, Satyam gained 2.82% and Wipro rose 3.83%. Banking sector, ICICI Bank surged 3.80% and HDFC bank edged up 5.07%. MTNL gained 5.14% and VSNL up by 4.87%.The major stock markets in Asia were trading in green on Friday. Nikkei 225 was up 55.28 points at 17,145.59. Straits Times rose 9.27 points at 3,131.76 while South Korea''s Seoul Composite was down 3.87 points at 1,420.02. Crude for April delivery closed off 18 cents at $61.64 a barrel.Today, Nifty has support at 3695 and resistance at 3845 and BSE Sensex has support at 12855 and resistance at 13460. However, it is our advice to watch trading session carefully.
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