Indian market is likely to have a cautious opening, as the market sentiment is quite bearish. On Monday, the Indian markets closed in deep red, as BSE Sensex closed at 12,455.37 down by 616.73 points and Nifty dropped 187.95 points to close at 3,633.60.The outlook for the market is cautious.
Monday, US markets closed in green. The Dow Jones Industrial Average (DJI) surge 27.95 points to close at 12,382.30. The S&P 500 (SPX) index grew 3.69 points to close at 1,424.55, and the NASDAQ Composite (RIXF) up marginally by 0.62 points to close at 2,422.26.
Indian ADRs ended on a mixed note. In technology sector, Infosys dropped by 0.88%, while Satyam and Wipro closed lower by 2.42% and 3.05% respectively. In banking sector, ICICI Bank dropped 0.60%, while HDFC Bank grew by 0.39%. MTNL fell by 3.59% whereas VSNL surged by 0.11%.
The major stock market in Asia is mostly trading higher. The Nikkei 225 is trading at 17,162.62 up by 134.21 points, while Hang Seng advanced by 137.06 points to trade at 19,946.76. Straits Times grew by 24.36 points to trade at 3,270.67.
Today, Nifty has support at 3,550 and resistance at 3,720 and BSE Sensex has support at 12,250 and resistance at 12,700.
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