Indian market is likely to have a flat opening with negative bias, as the US market ended in red and Asian market is trading lower. On Wednesday, the Indian markets ended mixed, as BSE Sensex closed at 13,183.24 down by 6.30 points whereas Nifty gained by 14.5 points to close at 3862.65. We expect the market to remain choppy during the day.
Wednesday, the US markets closed in red. The Dow Jones Industrial Average (DJI) closed lower by 89.23 points at 12,484.62. The S&P 500 (SPX) index declined 9.52 points to close at 1438.87 while the NASDAQ Composite (RIXF) down by 18.30 points to close at 2459.31.
Indian ADRs ended in negative. In technology sector, Wipro, Satyam and Infosys down by 2.39%, 2.06% and 0.21% respectively. In banking sector, HDFC Bank declined by 0.49% as well as ICICI Bank fall by 0.31%. VSNL decreased by 0.91%. In automobile sector, Tata Motors down by 0.47%.The major stock market in Asia is trading in red. The Nikkei 225 is trading at 17,477.25 down by 192.82 points, Hang Seng tumbled by 156.10 points to trade at 20,293.33. Straits Times trading lower at 3,404.13 slipped by 16.49 points. Taiex fall by 6.96 points to trade at 8,077.49.
Today, Nifty has support at 3,750 and resistance at 3,950 and BSE Sensex has support at 12,850 and resistance at 13,300.
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