Indian market is likely to have flat opening on the back of negative cues from overseas indices. On Tuesday, the Indian markets closed in positive, as BSE Sensex closed marginally up by 13.36 points at 14,501.08 while Nifty closed higher by 26.3 points at 4,285.70. We expect the market to remain optimism during the trading session.
Tuesday, the US markets closed in red. The Dow Jones Industrial Average (DJI) slipped by 14.39 points to close at 13,337.66. The S&P 500 (SPX) index declined by 4.85 points to close at 1,492.89 and NASDAQ Composite (RIXF) closed lower by 2.92 points at 2,574.16 points.
Indian ADRs closed in positive. In technology sector, Wipro gained by (0.97%) along with Infosys and Patni computers by (0.22%) and (0.17%) respectively. ICICI bank grew by (0.37%) while HDFC bank fell by (0.95%). MTNL and VSNL inclined by (1.29%) and (1.21%) respectively. In automobile sector, Tata Motors grew by (0.12%). In health care sector, Dr Reddy''s lab surged by (1.14%).
The major stock markets in Asia are trading weak. The Nikkei 225 declined by 133.08 points to trade at 17,933.03 Hang Seng trading lower by 23.25 points at 21,780.32. Strait Times index slipped by 5.49 points to trade at 3,519.61. Taiwan weighted trading down by 23.08 points at 8,842.67.
Today, Nifty has support at 4,245 and resistance at 4,350 and BSE Sensex has support at 14,390 and resistance at 14,680.
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