Pre Open Market Commentary

Indian market is likely to have a flat opening, as the Asian market is trading mixed and US market closed in red zone. On Tuesday, the Indian markets closed in green, as BSE Sensex closed higher by 39.24 points at 14,535.01 while Nifty grew by 17.6 points to close at 4,281.20. We expect the market to remain cautious during the day.

Tuesday, the US markets closed in red. The Dow Jones Industrial Average (DJI) closed lower by 80.86 points at 13,595.46. The S&P 500 (SPX) index declined by 8.23 points to trade at 1,530.95 while the NASDAQ Composite (RIXF) closed in negative at 2,611.23 down by 7.06 points.

Indian ADRs ended mixed. In technology sector, Infosys and Wipro gained (0.57%) and (0.50%) respectively while Satyam declined by (1.39%). In banking sector, HDFC bank grew by (0.61%) whereas ICICI bank fell by (1.05%). VSNL grew by (0.99%). In automobile sector, Tata Motors closed lower by (1.29%). In health care sector, Dr Reddy''s lab slipped by (0.25%).

The major stock markets in Asia are trading mixed. The Nikkei 225 is trading lower by 16.50 points at 18,037.31. Hang Seng trading higher by 33.63 points to close at 20,875.78. Straits Times slipped by 7.04 points to trade at 3,565.86. Taiex trading up by 62.63 points at 8,366.62.

Today, Nifty has support at 4,215 and resistance at 4,320 and BSE Sensex has support at 14,340 and resistance at 14,625.