Indian market is likely to have a flat opening but volatility is expected during the trading session as the Asian market is trading lower and US market ended mixed. On Friday, the Indian markets ended on a negative note as BSE Sensex closed at 13908.58 down by 320.30 points while Nifty down by 94.35 points to close at 4083.50. We expect the market to be choppy during the trading session.
Friday, the US markets closed mixed The Dow Jones Industrial Average (DJI) closed higher by 15.44 points at 13120.94. The S&P 500 (SPX) index declined by 0.18 points to close at 1494.07 while the NASDAQ Composite (RIXF) grew by 2.75 points to close at 2557.21.
Indian ADRs ended in red. In technology sector, Wipro, Infosys and Satyam computers declined by 0.78%, 0.62% and 0.12% respectively whereas Patni computers inclined by 2.14%. In banking sector, ICICI bank and HDFC bank down by 3.62% and 0.91% respectively. VSNL and MTNL plunged by 1.08% and 0.54%. In automobile sector, Tata Motors down by 3.35%.
The major stock markets in Asia are trading in red. Hang Seng declined by 16.16 points to trade at 20,510.34. Straits Times trading lower at 3360.52 plunged by 38.08 points. . Taiwan weighted plunged by 100.89 points to trade at 7848.53.
Today, Nifty has support at 3,950 and resistance at 4,140 and BSE Sensex has support at 13,600 and resistance at 14,200.
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