Pre Session Market

Indian market is likely to have a positive opening on the back of strong positive global cues. On Wednesday, the Indian markets ended on a positive note as BSE Sensex closed higher by 21.85 points at 16,921.39 while Nifty grew by 1.65 points to close at 4,940.50. We expect the market to see some bull run during the trading session but expiry of the September F&O series today is also likely to play an important role.
BR>On Wednesday, the US market closed in positive territory. The Dow Jones Industrial Average (DJIA) surged 99.50 points to close at 13,878.15. The S&P 500 (SPX) index increased by 8.21 points to close at 1,525.42 and the NASDAQ Composite (RIXF) advanced 15.58 points to close at 2,699.03.
BR>Indian ADRs ended in green. In technology sector, Patni computers surged by (6.35%) along with Satyam by (4.37%), Wipro by (2.95%) and Infosys by (2.36%). In banking sector, ICICI bank and HDFC bank grew by (1.86%) and (0.33%) respectively. Tata Motors grew by (0.92%). MTNL and VSNL advanced by (4.79%) and (4.24%) respectively.
BR>The major stock markets in Asia are trading strong. Japan''s Nikkei is trading firm at 16,688.64 up by 252.90. Hang Seng index trading strong at 26,871.24 higher by 440.95 points. Taiwan weighted is trading higher by 71.35 points at 9,328.82. Singapore Strait times trading up by 35.56 points at 3,685.65. Seoul Composite grew by 17.45 points to trade at 1,936.71.
BR>Yesterday, the gross equity purchased was Rs.4,509.10 (in crores) and the gross debt purchased was Rs482.20 (in crores). The gross equity sold was Rs2, 958.90 (in crores), and the gross debt sold was Rs220.60 (in crores). The net investment of equity was Rs1, 550.20 (in crores) and the net debt investment was Rs261.60 (in crores).
BR>Today, Nifty has support at 4,905 and resistance at 5,070 and BSE Sensex has support at 16,810 and resistance at 17,295.