Indian market is likely to have a positive opening due to positive global cues. On Wednesday, the Indian markets ended on a negative note as BSE Sensex closed lower by 99.26 points at 14,910.62 while Nifty slipped by 18.9 points to close at 4,387.15. We expect the market to remain optimism during the trading session.
Wednesday, the US markets closed in green. The Dow Jones Industrial Average (DJI) increased by 76.17 points to close at 13,577.87. The S&P 500 (SPX) index closed higher by 8.64 points at 1,518.76 while the NASDAQ Composite (RIXF) grew by 12.63 points to close at 2,651.79.
Indian ADRs ended in mixed. In technology sector, Infosys slipped by (2.18%) along with Satyam (1.70%) and Patni computers (1%). In banking sector, HDFC bank and ICICI bank advanced by (1.54%) and (0.44%) respectively. MTNL grew by (3.53%) while VSNL fell by (0.30%).
The major stock markets in Asia are trading strong. The Nikkei 225 is trading higher by 63.44 points at 18,112.95, Hang Seng increased by 199.81 points to trade at 22,806.83. Straits Times trading at 3,631.57 up by 36.63 points. Taiwan weighted grew by 90.90 points to trade at 9,381.85.
Today, Nifty has support at 4,348 and resistance at 4,450 and BSE Sensex has support at 14,830 and resistance at 15,040.
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