The Indian market is likely to negative opening due to negative global cues. Also the investors were concerned about the Federal Reserve decision about the interest rate and this will add to the investor''s sentiments. On Monday, the Indian markets ended in a negative note as BSE Sensex closed lower by 99.37 points at 15,504.43 while Nifty fell by 23.35 points to close at 4,494.65. We expect the market to remain choppy during the trading session.
Monday, the US markets closed in red. The Dow Jones Industrial Average (DJIA) dropped 39.10 points to close at 13,403.42. The S&P 500 (SPX) index decreased by 7.60 points to close at 1,476.65 and the NASDAQ Composite (RIXF) fell 20.52 points to close at 2,581.66.Indian ADRs ended mixed. In technology sector, Patni computers fell by (4.50%) along with Infoys by (0.51%), Satyam by (0.50%) while Wipro closed higher by (0.15%). In banking sector, HDFC bank and ICICI Bank lost grounds by (1.49%) and (0.27%) respectively. MTNL and VSNL fell by (2.55%) and (1.68%) respectively. In automobile sector, Tata Motors jumped by (0.35%).
The major stock markets in Asia are trading weak. The Nikkei 225 index slliped by 286.11 points to trade at 15,841.31, Hang Seng fell by 100.51 points to trade at 24,498.83. Straits Times trading lower by 11.99 points to trade at 3,464.32.
Today, Nifty has support at 4,410 and resistance at 4,525 and BSE Sensex has support at 15,210 and resistance at 15,590.
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