Pre Session Market

Indian market is likely to have a flat opening as the Asian market is trading mixed. On Monday, the Indian markets ended on a strong positive note as BSE Sensex closed higher by 281.6 points at 16,845.83 while Nifty grew by 94.65 points to close at 4,932.20. We expect the market to remain volatile during the trading session.

On Monday, The US market closed in negative territory. The Dow Jones Industrial Average (DJIA) dropped 61.13 points to close at 13,759.06. The S&P 500 (SPX) index decreased by 8.02 points to close at 1,517.73 and the NASDAQ Composite (RIXF) slipped 3.27 points to close at 2,667.95.

Indian ADRs ended in mixed. In technology sector, Satyam computers fell by (4.61%) along with Infosys by (1.39%), Patni computers by (0.69%) and Wipro by (0.58%). In banking sector, ICICI bank and HDFC bank grew by (2.42%) and (1.93%) respectively. Tata Motors grew by (1.48%). VSNL and MTNL advanced by (3.29%) and (1.40%) respectively.

The major stock markets in Asia are trading mixed Japan''s Nikkei is trading lower by 22.95 points at 16,289.66. Hang Seng is trading higher by 31.86 points at 26,520.08. Singapore Strait times trading flat at 3,639.54. Taiwan Weighted advanced by 122.25 points to trade at 9,105.28.

The gross equity purchased was Rs.3,856.70 (in crores), and the gross debt purchased was Rs226.10 (in crores). The gross equity sold was Rs2,932.40 (in crores), and the gross debt sold was Rs32.40 (in crores). The net investment of equity was Rs924.30 (in crores) and the net debt investment was Rs193.70 (in crores).

Today, Nifty has support at 4,865 and resistance at 4,980and BSE Sensex has support at 16,630 and resistance at 16,995.