Pre Session Market

Indian market is likely to have a positive opening as the US market closed higher. On Thursday, the Indian markets ended lower as BSE Sensex slipped by 69.90 points to close at 17,777.14 while Nifty fell 2.15 points to close at 5,208.65. We expect the market to remain range bound during the trading session but the investors will be looking for a positive clue to book their positions.

On Thursday, the US market closed in positive territory. The Dow Jones Industrial Average (DJIA) improved 6.26 points to close at 13,974.31. The S&P 500 (SPX) index increased by 3.25 points to close at 1,542.84 and the NASDAQ Composite (RIXF) grew 4.14 points to close at 2,733.57.

Indian ADRs ended in green. In technology sector, Wipro grew by (1.57%) along with Patni computers by (1.05%), Satyam (0.98%) and Infosys by (0.83%). In banking sector, HDFC bank advanced by (0.90%) while ICICI bank slipped by (1.17%). MTNL and VSNL grew by (1.90%) and (0.43%) respectively.

The major stock markets in Asia are trading mixed. Hang Seng index gained 357.90 points to trade at 27,331.88. Japan''''s Nikkei is trading lower by 28.70 points at 17,063.79. Taiwan weighted slipped by 28.68 points to trade at 9,598.71. Seoul Composite is trading down by 12.57 points at 1,991.03.

Yesterday, the gross equity purchased was Rs8,194.50 (in crores) and the gross debt purchased was Rs91.30 (in crores). The gross equity sold was Rs5,033 (in crores), and the gross debt sold was Rs38.90 (in crores). The net investment of equity was Rs3161.50 (in crores) and the net debt investment was Rs52.40 (in crores).

Today, Nifty has support at 5,155 and resistance at 5,295 and BSE Sensex has support at 17,605 and resistance at 18,080.