Pre Open market Commentary

Indian market is likely to have a flat opening but volatility is expected during the trading session. The Asian market is trading lower while the US market ended in green territory with marginal gains. On Thursday, the Indian markets ended on a positive note as BSE Sensex closed at 14,228.88 up by 11.11 points while Nifty grew by 10.55 points to close at 4177.85. We expect the market to be choppy during the trading session.

Thursday, the US markets closed in green The Dow Jones Industrial Average (DJI) closed higher by 15.61 points at 13,105.50. The S&P 500 (SPX) index declined by 1.17 points to close at 1494.25 while the NASDAQ Composite (RIXF) grew by 6.57 points to close at 2554.46.

Indian ADRs ended mixed. In technology sector, Wipro and Patni computers grew by 1.52% and 0.98% respectively whereas Satyam and Infosys declined by 1.38% and 0.92% respectively.

In banking sector, HDFC bank and ICICI Bank down by 0.35% and 0.15% respectively. MTNL inclined by 2.80% whereas VSNL tumbled by 0.51%. In automobile sector, Tata Motors jumped by 1.27%.The major stock markets in Asia are trading in red. The Nikkei 225 is trading at 17,360 down by 69.17 points, Hang Seng declined by 140.10 points to trade at 20,527.19. Straits Times trading lower at 3378.33 plunged by 28.56 points.

Today, Nifty has support at 4,050 and resistance at 4,250 and BSE Sensex has support at 13,920 and resistance at 14,450.