The Indian market is likely to have flat opening with positive bias. The Asian market is trading higher and US market closed mixed. On Tuesday, the Indian markets ended in a positive as BSE Sensex closed higher by 35.12 points at 14,453.72 while Nifty closed up by 17.20 points at 4,278.10. We expect the market to remain range bound during the day.
Tuesday, the US markets closed in mixed. The Dow Jones Industrial Average (DJI) declined by 2.93 points to close at 13,539.95. The S&P 500 (SPX) index closed marginally lower by 0.98 points at 1,524.12 while the NASDAQ Composite (RIXF) closed up by 9.23 points at 2,588.02.
Indian ADRs closed in mixed. In technology sector, Satyam computers grew by 0.90% along with Infosys by 0.10% while Patni computers declined by 2.42% and Wipro lost by 1.16%. In banking sector, HDFC bank grew by 1.05% while ICICI bank declined by 0.13%. VSNL and MTNL advanced by 4.22% and 1.07%. In automobile sector, Tata Motors grew by 1.46%. In Pharma sector, Dr Reddy''s lab declined 1.45%.
The major stock markets in Asia are trading in positive. Japan''s Nikkei trading higher by 71.69 points at 17,751.74. Straits Times gained 3.27 points to trade at 3,543.09. Taiwan weighted trading at 8,232.57 up by 43.94 points.
Today, Nifty has support at 4,230 and resistance at 4,325 and BSE Sensex has support at 14,320 and resistance at 14,560.
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