Indian market is likely to have a negative opening due to weak global cues. On Tuesday, the Indian markets ended on a positive note as BSE Sensex closed higher by 62.72 points at 15,794.92 while Nifty increased marginally by 1.4 points to close at 4,620.75. We expect the market to remain cautious during the trading session.
Tuesday, the US markets closed in red. The Dow Jones Industrial Average (DJI) declined by 226.47 points to close at 13,716.95. The S&P 500 (SPX) index closed lower by 30.53 points at 1,511.04 while the NASDAQ Composite (RIXF) slipped by 50.72 points to close at 2,639.86.
Indian ADRs ended in red. In technology sector, Patni computers lost (4.77%) along with Infosys 3.04%, Satyam (1.98%) and Wipro (1.66%). In banking sector, ICICI bank and HDFC bank slipped by 4.23% and 1.64% respectively. MTNL and VSNL decreased by (4.21%) and (1.67%) respectively.
The major stock markets in Asia are trading weak. Japan''s Nikkei trading lower by 199.45 points at 17,802.58. Hang Seng decreased by 173.07 points to trade at 23,299.81. Straits Times slipped by 39.17 points to trade at 3,625.96.
Today, Nifty has support at 4,555 and resistance at 4,650 and BSE Sensex has support at 15,555 and resistance at 15,895.
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