Indian market is likely to have a positive opening on the back of positive global cues. On Wednesday, the Indian markets ended on a deep red note, as BSE Sensex closed lower by 615.22 points at 14,935.77 while Nifty declined by 183 points to close at 4345.85. We expect the market to remain optimism during the trading session.
Wednesday, the US markets closed in green. The Dow Jones Industrial Average (DJI) increased by 150.38 points to close at 13,362.37. The S&P 500 (SPX) index closed higher by 10.54 points at 1,465.81 while the NASDAQ Composite (RIXF) grew by 7.60 points to close at 2,553.87.
Indian ADRs ended in negative. In technology sector, Patni computers decreased by (5.56%) along with Wipro by (1.23%) and Infosys by (0.85%). In banking sector, HDFC Bank slipped by (1.86%) while ICICI bank increased by (0.93%). VSNL and MTNL closed lower by (2.39%) and (2.19%) respectively.
The major stock markets in Asia are trading firm. Japan''s Nikkei trading higher by 80.84 points at 16,951.82.Hang Seng grew by 275.04 to trade at 22,730.40. Taiwan weighted was up by 84.60 points to trade at 8,976.48. Straits Times increased by 44.87 points to trade at 3,476.58.
Today, Nifty has support at 4,310 and resistance at 4,420 and BSE Sensex has support at 14,840 and resistance at 16,000.
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