Pre Open Market Commentary

Indian market is likely to have a flat opening as the Asian market is trading mixed and US market closed in mixed. On Tuesday, the Indian markets ended on a negative note, as BSE Sensex closed lower by 438.44 points at 13,989.11 while Nifty slipped by 134.15 points to close at 4,074.90. We expect the market to remain choppy during the trading session.

Tuesday, the US markets closed in mixed The Dow Jones Industrial Average (DJI) decreased by 30.49 points to close at 13,090.86. The S&P 500 (SPX) index closed marginally up by 1.57 points at 1,447.12 while the NASDAQ Composite (RIXF) increased by 12.71 points to close at 2,521.30.

Indian ADRs ended in negative. In technology sector, Infosys declined by (4.53%) along with Satyam (3.69%) and Wipro by (3.26%) while Patni computers grew by (9.54%). In banking sector, ICICI bank and HDFC bank fell by (2.48%) and (1.49%) respectively. MTNL and VSNL closed lower by (2.51%) and (1.19%) respectively. Tata Motors decreased by (3.76%).

The major stock markets in Asia are trading mixed. Japan''s Nikkei trading lower by 29.25 points at 15,872.09. Hang Seng grew by 251.84 points to trade at 21,981.19. Singapore Straits times increased by 27.90 points to trade at 3,256.56. Seoul Composite advanced by 18.11 points to trade at 1,754.29.

Today, Nifty has support at 3,954 and resistance at 4,145 and BSE Sensex has support at 13,650 and resistance at 14,250.