Pre Open Market Commentary

Indian market is likely to have a flat opening with positive bias, as Index heavy weight Infosys is coming up with its numbers today. On Thursday, the Indian markets ended with a negative note, as BSE Sensex closed at 13,113.81 down by 69.43 points whereas Nifty declined by 32.8 points to close at 3,829.85. We expect the market to get direction after Infy''s result.

Thursday, the US markets closed in green. The Dow Jones Industrial Average (DJI) closed up by 68.34 points at 12552.96. The S&P 500 (SPX) index grew by 8.93 points to close at 1447.80 while the NASDAQ Composite (RIXF) advanced by 21.01 points to close at 2480.32.

Indian ADRs ended in positive. In technology sector, Infosys, Satyam and Wipro up by 3%, 2.94% and 1.51% respectively. In banking sector, ICICI and HDFC Bank inclined by 1.80% and 0.19% respectively. VSNL and MTNL grew by 2.31% and 2% respectively. In automobile sector, Tata Motors up by 0.48%.

The major stock market in Asia is trading in positive territory. The Nikkei 225 is trading at 17,565.17 up by 24.75 points, Hang Seng surged by 49.38 points to trade at 20,429.59. Straits Times trading higher at 3,376.18 gained by 3.49 points. Taiex fell by 31.97 points to trade at 8,043.23. Today, Nifty has support at 3,750 and resistance at 3,950 and BSE Sensex has support at 13,000 and resistance at 13,350.