Indian market is likely to have a negative opening as the US market closed in red and Asian market is trading lower. On Tuesday, the Indian markets ended on a negative note as BSE Sensex closed lower by 35.85 points at 15,009.88 while Nifty slipped by 13.35 points to close at 4,406.05. We expect the market to be cautious during the trading session.
Tuesday, the US markets closed in red. The Dow Jones Industrial Average (DJI) decreased by 148.27 points to close at 13,501.70. The S&P 500 (SPX) index closed lower by 21.73 points at 1,510.12 while the NASDAQ Composite (RIXF) slipped by 30.86 points to close at 2,639.16.
Indian ADRs ended in red. In technology sector, Wipro slipped by (2.95%) along with Infosys (2.62%), Patni computers (0.99%) and Satyam (0.92%). In banking sector, ICICI bank and HDFC bank decreased by (3.03%) and (2.73%) respectively. MTNL and VSNL down by (3.65%) and (3.05%).
The major stock markets in Asia are trading weak. The Nikkei 225 is trading lower by 191.72 points at 18,060.95, Hang Seng tumbled 269.94 points to trade at 22,609.03. Straits Times trading at 3,611.19 slipped by 9.13 points. Taiwan weighted down by 68.82 points to trade at 9,315.91.
Today, Nifty has support at 4,315 and resistance at 4,445 and BSE Sensex has support at 14,750 and resistance at 15,100.
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