Indian market is likely to have a flat opening due to weak global cues. On Friday, the Indian markets ended on a positive note as BSE Sensex closed higher by 15.42 points at 15,565.55 while Nifty increased by 3.95 points to close at 4,566.05. We expect the market to be cautious during the trading session.
Friday, the US markets closed in red. The Dow Jones Industrial Average (DJI) decreased by 149.33 points to close at 13,851.08. The S&P 500 (SPX) index closed lower by 18.98 points at 1,534.10 while the NASDAQ Composite (RIXF) slipped by 32.44 points to close at 2,687.60.
Indian ADRs ended in negative. In technology sector, Wipro declined by (2.34%) along with Patni computers by (1.53%) and Infosys by (1.40%) while Satyam gained by (3.36%). In banking sector, ICICI bank and HDFC bank slipped by (1.52%) and (0.32%) respectively. MTNL and VSNL decreased by (5.02%) and (3.73%) respectively.
The major stock markets in Asia are trading weak. Japan''s Nikkei trading lower by 233.31 points at 17,924.62. Hang Seng decreased by 55.51 points to trade at 23,236.39. Straits Times trading down by 16.04 points at 3,635.34. Taiwan weighted gained 47.29 points at 9,633.19.
Today, Nifty has support at 4,515 and resistance at 4,590 and BSE Sensex has support at 15,370 and resistance at 15,650.
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