Pre Open Market Commentary

Indian market is likely to have a positive opening, as the US market closed in green and Asian market is trading significantly higher. On Thursday, the Indian markets ended in a positive note, as BSE Sensex closed at 12,856.08 up by 69.31 points and Nifty gained 18.75 points to close at 3752. We expect the market to remain positive during the day.

Thursday, the US markets closed in green. The Dow Jones Industrial Average (DJI) closed higher by 30.15points at 12,560.2. The S&P 500 (SPX) index grew 4.39 points to close at 1443.76, and the NASDAQ Composite (RIXF) up by 12.65 points to close at 2471.34.

Indian ADRs ended mixed. In technology sector, Satyam up by 0.43% whereas Infosys closed down by 0.50%. In banking sector, ICICI Bank up by 1.72% as well as HDFC Bank surged by 2.02%. MTNL and VSNL grew by 1.79% and 1.54% respectively.

The major stock market in Asia is trading higher, as Bank of Japan is expected to hold the key interest rate at 0.5% and surprisingly positive US jobs data sparked hopes of increased sales to their biggest market. The Nikkei 225 is trading at 17,706.56 up by 221.78 points, Hang Seng advanced by 207.01 points to trade at 20209.71. Straits Times trading in green at 3380.86.

Today, Nifty has support at 3,650 and resistance at 3,850 and BSE Sensex has support at 12,725 and resistance at 13,175.