Pre open Market Commentary

Indian market is likely to have a negative opening on the back of negative global cues. On Thursday, the Indian markets ended on a negative note, as BSE Sensex closed lower by 84.68 points at 14,163.98 while Nifty decreased by 38.2 points to close at 4,114.95. We expect the market to trade lower during the trading session.

Thursday, the US markets closed in green The Dow Jones Industrial Average (DJIA) dropped marginally 0.25 points to close at 13,235.88. The S&P 500 (SPX) index decreased by 1.57 points to close at 1,462.50 and the NASDAQ Composite (RIXF) fell 11.10 points to close at 2,541.70.

Indian ADRs ended in negative. In technology sector, Wipro declined by (1.03%) along with Patni computers by (0.87%) while Satyam grew by (1.18%). In banking sector, HDFC bank and ICICI bank decreased by (3.82%) and (2.27%) respectively. MTNL and VSNL closed lower by (2.12%) and (1.50%) respectively. Tata Motors decreased by (1.33%).

The major stock markets in Asia are trading weak. Japan''s Nikkei trading lower by 53.51 points at 16,293.60. Hang Seng declined by 307.42 points to trade at 22,659.55. Taiwan weighted decreased by 37.70 points to trade at 8,695.14. Singapore Strait times slipped by 30.31 to trade at 3,340.60

Today, Nifty has support at 4,010 and resistance at 4,145 and BSE Sensex has support at 13,810 and resistance at 14,225.