Indian market is likely to have a positive opening as the Asian market is trading in green. On Wednesday, the Indian markets closed firm as the BSE Sensex grew by 378.01 points to close at 18,658.25 while Nifty closed up by 114.2 points at 5,441.45. We expect that the market may extend its gains and volatility will prevail later on as the IT bellwether company Infosys is coming out with quarterly numbers for the second quarter ended September 2007 today , which will set the further directions to the market.
Wednesday, the US markets closed in a negative territory. The Dow Jones Industrial Average (DJIA) dropped 85.84 points to close at 14,078.69. The S&P 500 (SPX) index decreased by 2.68 points to close at 1,562.47 while the NASDAQ Composite (RIXF) grew 7.70 points to close at 2,811.61.
Indian ADRs ended in mixed. In technology sector, Wipro grew by 2.62% along with Infosys by 2.45% while Patni computers and Satyam fell 2.17% and 0.18% respectively. In banking sector, ICICI bank advanced by 1.09% while HDFC bank decreased by 1.57%. VSNL grew by 5.82% while MTNL decreased by 0.49%. In auto sector, Tata Motors increased by (1.71%).
The major stock markets in Asia are trading firm. Hang Seng Index grew by 271.25 points to trade at 28,840.58. Japan''s Nikkei is trading higher by 34.76 points at 17,212.65. Singapore''s Straits Times index increased by 60.34 points to trade at 3,874.79. Seoul Composite trading marginally up by 3.53 points at 2,044.65.
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