Indian market is likely to have positive opening on the back of strong global cues. On Wednesday, the Indian markets closed on a negative note, as BSE Sensex closed lower by 127.92 points at 14,003.03 while Nifty dropped by 42.15 points to close at 4,113.05. We expect the market to remain optimism during the day.
Wednesday, the US markets closed in positive. The Dow Jones Industrial Average (DJI) grew by 187.34 points to close at 13,482.35. The S&P 500 (SPX) index closed up by 22.67 points at 1,515.67 and NASDAQ Composite (RIXF) advanced by 32.54 points to close at 2,582.31.
Indian ADRs closed in green. In technology sector, Satyam grew by (2.53%) along with Infosys and Wipro by (2.09%) and (0.89%) respectively. HDFC bank grew by 0.79% while ICICI bank slipped (0.77%). MTNL and VSNL grew by (0.80%) and (0.36%) respectively. In automobile sector, Tata Motors advanced by (0.44%). In health care sector, Dr Reddy''s lab surged by (4.13%).
The major stock markets in Asia are trading strong. The Nikkei 225 index surged by 116.62 points to trade at 17,849.39. Hang Seng advanced by 158.82 points to trade at 20,737.57. Straits Times gained 30.90 points to trade at 3,582.12. Taiex trading up by 85.31 points at 8,431.70.
Today, Nifty has support at 4,070 and resistance at 4,180 and BSE Sensex has support at 13,905 and resistance at 14,240.
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