Pre Session Market

Indian market is likely to have a flat opening for the day due to mixed global cues. On Tuesday, the benchmark index Sensex ended up with a loss of 352.56 points at 19,280.80 and Nifty fell by 126.75 points to close at 5,780.90. We expect that the market may see some down ward trend and will be looking for any cue for making an up move.

On Tuesday, the US markets ended in green. The Dow Jones Industrial Average (DJIA) ended with a gain of 51.70 points to close at 13,010.41. Further the NASDAQ Composite & S&P 500 (SPX) index also closed marginally up by 6.43 points & 3.43 points at 2,596.81 & 1,439.70 respectively.

Indian ADRs ended in mixed. In telecommunication sector, MTNL fell by 3.54% while VSNL grew by 3.50%. In banking sector, HDFC bank and ICICI bank closed up by 1.91% and 1.67% respectively. In technology sector, Wipro increased by 0.83% along with Patni computers by 0.26% and Satyam by 0.24% while Infosys grew by 2.38%.

The major stock markets in Asia are also trading in red. Hang Seng is trading lower by 717.15 points at 27,054.06. Along with this, Japan''s Nikkei is also trading with a loss of 196.09 points to trade at 15,015.43. Singapore''s Straits Times index is also trading down by 44.52 points at 3,393.75. Seoul Composite dropped by 22.23 points to trade at 1,850.01.

Yesterday, the FIIs stood as the net sellers as the gross equity purchased was Rs.3,859.70 (in crores), and the gross debt purchased was Rs.0.00 (in crores) as against the gross equity sold was Rs.3,886.50 (in crores) and the gross debt sold was Rs.0.00 (in crores). The net investment of equity was Rs.-26.80 (in crores) and the net debt investment was Rs.0.00 (in crores).

Today, Nifty has support at 5,709 and resistance at 5,835 and BSE Sensex has support at 18,990 and resistance at 19,496.