Indian market is likely to have a positive opening on the back of positive global cues. On Tuesday, the Indian markets ended on a positive note, as BSE Sensex closed higher by 29.74 points at 14,932.77 while Nifty increased by 16.85 points to close at 4,356.35. We expect the market to trade higher during the trading session.
Tuesday, the US markets closed in green. The Dow Jones Industrial Average (DJI) grew by 35.52 points to close at 13,504.30. The S&P 500 (SPX) index closed higher by 9.04 points at 1,476.71 while the NASDAQ Composite (RIXF) grew by 14.27 points to close at 2,561.60.
Indian ADRs ended in mixed. In technology sector, Satyam grew by 1.72% along with Infosys by (0.60%) while Patni computers and Wipro decreased by (1.01%) and (0.51%) respectively. In banking sector, HDFC Bank grew by 0.33% while ICICI bank decreased by (3.26%). MTNL and VSNL closed higher by (3.19%) and (2.01%) respectively.
The major stock markets in Asia are trading strong. Japan''s Nikkei trading up by 99.36 points at 17,021.13. Hang Seng surged by 244.40 points to trade at 22,152.39. Taiwan weighted was trading higher by 139.51 points at 9,001.82. Singapore straits times advanced by 71.06 points to trade at 3,373.07.
Today, Nifty has support at 4,328 and resistance at 4,420 and BSE Sensex has support at 14,840 and resistance at 15,210.
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