Pre Session Market

Indian market may have a positive opening due to strong global cues. On Monday, the Indian market surged on the back of softening of left parties over the nuclear deal. The left parties have agreed to allow the government to negotiate with US for a civilian nuclear agreement. Finally, the BSE Sensex closed higher by 298.21 points at 19,035.48 and Nifty grew by 78.30 points to close at 5695.40. We expect the market to trade on the front foot during the trading session.

Tuesday, the US markets closed in positive territory. The Dow Jones Industrial Average (DJIA) surged by 319.54 points to close at 13,307.09 followed by NASDAQ Composite and S&P 500 by 89.52 points and 41.87 points at 2,673.65 and 1,481.05 respectively.

Indian ADRs ended in positive. In banking sector, HDFC bank and ICICI bank gained by (13.26%) and (12.37%) respectively. In technology sector, Infosys grew by 7.17% along with Satyam by 5.22%, Wipro by 4.39% and Patni computers by 3.35%. In telecommunication sector, MTNL and VSNL inched up by (13.65%) and (11.14%) respectively.

The major stock markets in Asia are trading strong. Hang Seng is trading firm at 28,751.71 up by 948.36 points. Japan''s Nikkei is also trading higher by 278.82 points at 15,405.45. Taiwan weighted is trading up by 244.29 points at 8,971.50. Seoul Composite advanced by 28.67 points to trade at 1,961.56.

On Tuesday, the gross equity purchased by FIIs was Rs4,550 (in crores), and the gross debt purchased was Rs.0.00 (in crores) as against the gross equity sold was Rs.5,370 (in crores) and the gross debt sold was Rs.26.20 (in crores). The net investment of equity was -Rs.820 (in crores) and the net debt investment was -Rs26.20 (in crores).

Today, Nifty has support at 5,670 and resistance at 5,819 and BSE Sensex has support at 18,956 and resistance at 19,398.