Indian market is likely to have a negative opening as the US market closed in red while the Asian market is trading mixed. On Friday, the Indian markets ended in deep red as BSE Sensex closed lower by 541.74 points at 15,234.57 while Nifty decreased by 174.6 points to close at 4,445.20. We expect the market to remain cautious during the trading session.
Friday, the US markets closed in red. The Dow Jones Industrial Average (DJI) decreased by 208.10 points to close at 13,265.47. The S&P 500 (SPX) index closed lower by 23.71 points at 1,458.95 while the NASDAQ Composite (RIXF) fell by 37.10 points to close at 2,562.24.
Indian ADRs ended in negative. In technology sector, Patni computers declined by (3.56%) along with Satyam by (1.51%), Wipro (0.87%) and Infosys (0.77%). In banking sector, ICICI bank and HDFC bank slipped by (2.52%) and (2.08%) respectively. MTNL and VSNL decreased by (4.11%) and (0.54%) respectively.
The major stock markets in Asia are trading mixed. Japan''s Nikkei trading lower by 172.64 points at 17,111.17. Hang Seng trading up by 15.23 points at 22,585.64. Taiwan weighted slipped by 59.97 points to trade at 9,102.31. Straits Times trading higher by 5.21 points at 3,497.91.
Today, Nifty has support at 4,382 and resistance at 4,495 and BSE Sensex has support at 15,040 and resistance at 15,380.
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