Indian market is likely to have a positive opening due to strong positive global cues. On Thursday, the Indian markets ended on a positive note as BSE Sensex closed higher by 181.42 points at 15,092.04 while Nifty grew by 59 points to close at 4,446.15. We expect the market to trade higher during the trading session.
Thursday, the US markets closed in green. The Dow Jones Industrial Average (DJI) surged by 283.86 points to close at 13,861.73. The S&P 500 (SPX) index closed higher by 28.94 points at 1,547.70 while the NASDAQ Composite (RIXF) grew by 49.94 points to close at 2,701.73.
Indian ADRs ended in positive. In technology sector, Patni computers surged by (4.37%) along with Satyam by (1.73%), Infosys (0.62%) and Wipro (0.51%). In banking sector, HDFC bank and ICICI bank advanced by (4.50%) and (4.01%) respectively. VSNL and MTNL grew by (4.31%) and (0.49%) respectively.
The major stock markets in Asia are trading strong. The Nikkei 225 is trading higher by 251.01 points at 18,235.15, Hang Seng surged by 430.90 points to trade at 23,232.71. Straits Times trading at 3,671.29 up by 46.73 points. Taiwan weighted grew by 108.64 points to trade at 9,463.05.
Today, Nifty has support at 4,416 and resistance at 4,500 and BSE Sensex has support at 15,010 and resistance at 15,350.
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