Indian market is likely to have a flat opening as the US market closed flat. On Monday, the Indian markets ended on a positive note, as BSE Sensex closed higher by 148.96 points at 15,017.21 while Nifty grew by 40.3 points to close at 4,373.65. We expect the market to see some profit booking in the later half of the day.
Monday, the US markets closed flat. The Dow Jones Industrial Average (DJI) decreased marginally by 3.01 points to close at 13,236.53. The S&P 500 (SPX) index closed flat at 1,452.92 while the NASDAQ Composite (RIXF) slipped by 2.65 points to close at 2,542.24.
Indian ADRs ended in mixed. In technology sector, Wipro grew by 2.92% along with Satyam by 2.08% and Infosys by 1.02% while Patni computers slipped by (1.95%). In banking sector, ICICI bank and HDFC bank increased by (1.44%) and (0.98%) respectively. VSNL and MTNL closed lower by (2.02%) and (1.01%) respectively. Tata Motors grew by 2.39%.
The major stock markets in Asia are trading marginally lower. Japan''s Nikkei trading down by 2.57 points at 16,797.48. Hang Seng slipped by 27.81 points to trade at 21,863.29. Singapore Straits times decreased by 2.56 points to trade at 3,378.05.
Today, Nifty has support at 4,315 and resistance at 4,440 and BSE Sensex has support at 14,880 and resistance at 15,197.
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