Pre Open Market Commentary

Indian market is likely to have a positive opening, as the Asian market is trading higher and US market ended in green. On Thursday, the Indian markets ended on a positive inspiring note as BSE Sensex closed at 14,078.21 up by 205.84 points while Nifty grew by 62.95 points to close at 4,150.85. We expect the market to be range bound during the trading session.

Thursday, the US markets closed in green. The Dow Jones Industrial Average (DJI) closed higher by 29.50 points at 13241.38. The S&P 500 (SPX) index grew by 6.47 points to close at 1502.39 while the NASDAQ Composite (RIXF) closed up by 7.62 points at 2565.46.

Indian ADRs ended in mixed. In technology sector, Wipro closed higher by 1%. In banking sector, ICICI bank closed higher by 1.5%. VSNL grew by 1%. In automobile sector, Tata Motors down by 1.5%.

The major stock markets in Asia are trading in green. Hang Seng surged by 196.31 points to trade at 20,877.89. Straits Times trading higher at 3,473.62 rose by 22.98 points. Taiwan weighted advanced by 86.69 points to trade at 8,013.35.

Today, Nifty has support at 4,070 and resistance at 4,230 and BSE Sensex has support at 13,800 and resistance at 14,350.