Indian market is likely to have a positive opening mainly due to the last one-hour movement during the previous trading day. On Wednesday, the Indian markets ended on a positive note as BSE Sensex closed at 13,781.51 up by 16.05 points while Nifty grew marginally by 2.3 points to close at 4,079.30. We expect the market to remain optimism during the trading session.
Wednesday, the US markets closed flat with positive bias. The Dow Jones Industrial Average (DJI) closed higher by 53.80 points at 13,362.87. The S&P 500 (SPX) index closed up by 3.10 points at 1,512.58 while the NASDAQ Composite (RIXF) grew by 4.59 points at 2,576.34.
Indian ADRs ended in positive territory. In technology sector, Infosys gained 1.4% followed by Wipro with 1.5%. In banking sector, ICICI bank and HDFC bank gained 1.2% and 1.07% respectively. MTNL advanced by 3.2%. In automobile sector, Tata Motors slipped by 0.4%.
The major stock markets in Asia are trading mixed. Japan''s Nikkei trading flat at 17,748.71 while Hang Seng plunged 154.15 points to trade at 20,690.63. Straits Times trading higher at 3,462.55 up by 9.83 points. Taiwan weighted rose by 26.16 points to trade at 8,078.86.
Today, Nifty has support at 4,030 and resistance at 4,135 and BSE Sensex has support at 13,670 and resistance at 14,050.
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