Pre Open Market Commentary

Indian market is likely to have a positive opening on the back of strong global cues. On Tuesday, the Indian markets ended on a positive note, as BSE Sensex closed higher by 43.35 points at 15,465.40 while Nifty grew by 4.5 points to close at 4,479.25. We expect the market to remain range bound during the trading session.

On Tuesday, the US market closed in green. The Dow Jones Industrial Average grew by 91.12 points at 13,448.86. The Nasdaq advanced by 33.88 points at 2,630.24. The S&P 500 index increased by 15.43 points to close at 1,489.42.

The major stock markets in Asia are trading higher. Japan''s Nikkei trading higher by 11.92 points at 16,408.55. Hang Seng grew by 310.60 points to trade at 24,196.67. Taiwan weighted advanced by 33.74 points to trade at 8,956.72. Singapore Strait times increased by 20.56 points to trade at 3,396.62.

Indian ADRs ended in positive. In technology sector, Infosys grew by (1.91%) along with Wipro by (0.82%) while Patni computers and Satyam slipped by (0.83%) and (0.47%) respectively. In banking sector, ICICI bank advanced by (1.78%) while HDFC bank fell by (0.17%). VSNL and MTNL closed higher by (2.23%) and (1.88%) respectively.

Today, Nifty has support at 4,443 and resistance at 4,548 and BSE Sensex has support at 15,300 and resistance at 15,710.