Indian market is likely to have a flat opening due to negative global cues. On Tuesday, the Indian markets ended on a positive note, as BSE Sensex closed higher by 290.08 points at 15,550.99 while Nifty increased by 88.8 points to close at 4528.85. We expect the market to remain bearish to some extent during the trading session.
Tuesday, the US markets closed in red. The Dow Jones Industrial Average (DJI) decreased by 146.32 points to close at 13,211.99. The S&P 500 (SPX) index closed lower by 18.64 points at 1,455.27 while the NASDAQ Composite (RIXF) slipped by 37.01 points to close at 2,546.27.
Indian ADRs ended in negative. In technology sector, Wipro slipped by (2.86%) along with Infosys by (2.17%) and Satyam computers by (0.93%). In banking sector, ICICI bank and HDFC bank decreased by (3.69%) and (1.07%) respectively. MTNL closed lower by (2.53%).
The major stock markets in Asia are trading weak. Japan''s Nikkei trading lower by 193.31 points at 17,055.58.Taiwan weighted slipped by 34.84 points to trade at 9252.41. Straits Times decreased by 45.99 points to trade at 3,501.67.
Today, Nifty has support at 4,475 and resistance at 4,565 and BSE Sensex has support at 15,345 and resistance at 15,640.
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