Indian market is likely to have a flat opening, as the Asian market is trading mixed and US market ended flat with negative bias. On Tuesday, the Indian markets ended on a negative note as BSE Sensex closed at 13,765.46 down by 113.79 points while Nifty declined by 34.15 points to close at 4,077. We expect the market to be cautious.
Tuesday, the US markets closed flat. The Dow Jones Industrial Average (DJI) closed lower by 3.90 points at 13,309.07. The S&P 500 (SPX) index declined by 1.76 points to close at 1,507.72 while the NASDAQ Composite (RIXF) grew marginally by 0.80 points at 2,571.75.
Indian ADRs ended in negative territory. In technology sector, Satyam declined by 1.59% followed by Patni computers 1.41%, Infosys 1.21% and Wipro 0.36%. In banking sector, ICICI bank gained 0.70% while HDFC bank closed lower by 0.46%. MTNL and VSNL dropped by 2.58% and 1.06% respectively. In automobile sector, Tata Motors Grew marginally by 0.06%.
The major stock markets in Asia are trading mixed. Japan''s Nikkei trading flat at 17,658.19 while Hang Seng gained 47.91 points to trade at 20,754.26. Straits Times trading lower at 3,434.08 tumbled by 5.13 points. Taiwan weighted down by 17.28 points to trade at 8,078.56.
Today, Nifty has support at 4,010 and resistance at 4,140 and BSE Sensex has support at 13,540 and resistance at 13,950.
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