Indian market is likely to witness a flat opening and expected to relax a bit, as US market ended in green and Asian market is also trading higher. On Tuesday, the Indian markets ended in a negative note as BSE Sensex closed at 13,607.04 down by 88.54 points while Nifty declined by 28.4 points to close at 3,984.95. We expect the market to be cautious.
Tuesday, the US markets closed in Green. The Dow Jones Industrial Average (DJI) closed up by 52.58 points at 12,773.04. The S&P 500 (SPX) index grew by 3.01 points to close at 1,471.48 while the NASDAQ Composite (RIXF) dropped by 1.38 points to close at 2,516.95.
Indian ADRs ended in negative. In technology sector, Patni computers slipped by 3.39% followed by Satyam 2.09%, Wipro 0.47% and Infosys 0.20% ended in red. In banking sector, ICICI Bank inclined by 0.54% whereas HDFC bank declined by 0.38%. VSNL and MTNL dropped by 1.59% and 1.45% respectively.
The major stock markets in Asia are trading in green. The Nikkei 225 is trading at 17,648.66 up by 121.21 points, Hang Seng surged by 79.46 points to trade at 20,868.07. Straits Times trading higher at 3,416.53 gaining 1.21 points while Taiex advanced by 34.51 points to trade at 7,993.80.
Today, Nifty has support at 3,920 and resistance at 4030 and BSE Sensex has support at 13,430 and resistance at 13,750.
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