Indian market is likely to have a positive start for the day with marginal gains, as the market participants are a bit cautious & awaiting for the SEBI''s final word upon the proposals on the Participatory Notes. On Wednesday, the benchmark index Sensex ended with the marginal gain of 20.07 points to close at 18,512.91, whereas Nifty closed a bit higher with a gain of 22.45 points to close at 5496.15. We expect that the market may trade cautiously with a wait and watch mood on the SEBIs announcement.
On Wednesday, the US markets ended with marginal losses as the Dow Jones Industrial Average (DJIA) closed down by 0.98 points to close at 13,675.25. Further the NASDAQ Composite & S&P 500 (SPX) index also dropped by 24.50 points & 3.71 points to close at 2,774.76 & 1,515.88 respectively.
Indian ADRs also traded mixed. In telecommunication sector, VSNL & MTNL surged (1.03%) & (2.49%) respectively. Banking sector also ended mixed as the ICICI bank lost (2.47%) & HDFC bank gained (0.40%). In technology sector Satyam decreased by (3.44%) along with Wipro by (3.86%), Patni Computers by (1.62%) and Infosys by (4.06%).
The major stock markets in Asia are trading firm. Hang Seng is trading with the gain of 406.48 points at 29,740.01. Along with this, Japan''s Nikkei is trading higher by 34.75 points to trade at 16,393.14. Singapore''s Straits Times index is also trading positive by 25.28 points at 3,674.40 and Seoul Composite is up by 21.92 points to trade at 1,955.28.
Yesterday, the FIIs stood as the net buyers as the gross equity purchased was Rs.6315.70 (in crores), and the gross debt purchased was Rs.110.50 (in crores) as against the gross equity sold was Rs.5538.70 (in crores) and the gross debt sold was Rs.48.40 (in crores). The net investment of equity was Rs.777.00 (in crores) and the net debt investment was Rs.62.0 (in crores).
Today, Nifty has support at 5,390 and resistance at 5,626 and BSE Sensex has support at 18,312 and resistance at 18,754.
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