Pre Session Market

Indian market is likely to have flat opening as the Asian Market are trading lower and US market closed in red. On Wednesday, The BSE Sensex surged drastically to create an history by covering more than 900 points in a single day due o heavy buying acroos the sectoral indices scrips. Finally, BSE Sensex advanced by 893.58 points to close at 19,929.06 and NSE Nifty grew 242.5 points to close at 5,937.90. We expect that the profit booking may prevail in the market during the trading session after a strong ever rally yesterday.

Wednesday, the US markets closed in red as the Dow Jones Industrial Average (DJIA) closed lower by 83.16 points at 13,223.93. NASDAQ Composite and S&P 500 also fell by 29.33 points and 10.47 points at 2,644.32 and 1,470.58 respectively.

Indian ADRs ended in mixed. In banking sector, HDFC bank grew by (2.21%) while ICICI bank dropped by 0.68%. In technology sector, Patni computers fell by 3.56% along with Satyam by 2.48%, Wipro by 2.21% and Infosys by 1.61% respectively. In telecommunication sector, MTNL and VSNL grew by (2.02%) and (1.91%) respectively.

The major stock markets in Asia are trading lower. Hang Seng is trading lower by 153.32 points at 29,012.69. Taiwan weighted is trading down by 18.53 points at 8,924.40 and Seoul Composite fell by 5.95 points to trade at 1,966.63. Japan''s Nikkei is trading up by 52.53 points at 15,552.09.

Yesterday, FIIs stood as the net buyer. The gross equity purchased was Rs.5,186.80 (in crores), and the gross debt purchased was Rs.0.00 (in crores) as against the gross equity sold was Rs.5,064.60 (in crores) and the gross debt sold was Rs.8.50 (in crores). The net investment of equity was Rs.122.20 (in crores) and the net debt investment was -Rs.8.50 (in crores).

Today, Nifty has support at 5,802 and resistance at 5,967 and BSE Sensex has support at 19,517 and resistance at 19,994.