Indian market is likely to have a flat opening as US market closed in green and Asian market is trading mixed. On Wednesday, the Indian markets ended on a negative note as BSE Sensex closed lower by 95.59 points at 15,699.33 while Nifty decreased by 32.05 points to close at 4,588.70. We expect the market to remain range bound during the trading session.
Wednesday, the US markets closed in green. The Dow Jones Industrial Average (DJI) increased by 68.12 points to close at 13,785.07. The S&P 500 (SPX) index closed higher by 7.05 points at 1,518.09 while the NASDAQ Composite (RIXF) grew by 8.31 points to close at 2,648.17.
Indian ADRs ended in mixed. In technology sector, Wipro closed up by (0.78%) while Satyam computers and Patni computers decreased by (1.15%) and (0.98%) respectively. In banking sector, ICICI bank and HDFC bank slipped by (1.14%) and (0.88%) respectively. MTNL grew by (2.80%) while VSNL decreased by (2.97%).
The major stock markets in Asia are trading mixed. Japan''s Nikkei trading lower by 46.56 points at 17,811.86. Taiwan weighted trading up by 18.38 points at 9,758.51. Straits Times trading flat at 3,632.38.
Today, Nifty has support at 4,558 and resistance at 4,635 and BSE Sensex has support at 15,600 and resistance at 15,895.
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