Indian market may have a negative opening due to weak global cues. On Thursday, the Indian market closed the session on a negative note due to the selling pressure across the sectoral indices scrips. Finally the BSE Sensex closed lower by 144.17 points at 19,784.89 and Nifty fell by 25.8 points to close at 5,912.10. We expect the market may slip down further as the global cues are not in our favor. The worries over the credit losses from the US mortgage market and slowing down of US economy will add to the negative sentiments of the investors.
Thursday, the US markets closed in red. The Dow Jones Industrial Average (DJIA) fell by 120.96 points at 13,110.05. NASDAQ Composite and S&P 500 also dropped by 25.81 points and 19.43 points at 2,618.51 and 1,451.15 respectively.
Indian ADRs ended in mixed. In technology sector, Infosys fell by 2.34% along with Satyam by 1.98% and Wipro by 0.44% while Patni computers grew by 0.66%. In banking sector, HDFC bank and ICICI bank declined by (4.24%) and (4.11%) respectively. In telecommunication sector, MTNL and VSNL grew by (3.50%) and (1.72%) respectively.
The major stock markets in Asia are trading weak. Hang Seng is trading with a heavy loss of 911.31 points at 27,839.90. Japan''''s Nikkei is also trading lower by 245.62 points at 15,150.68. Taiwan weighted is trading down by 169.62 points at 8,735.79. Seoul Composite dropped by 47.04 points to trade at 1,900.70.
Today, Nifty has support at 5,781 and resistance at 5,929 and BSE Sensex has support at 19,339 and resistance at 19,866.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment