The market closed on an upbeat note by creating a rally across all the sectorial indices on the back of heavy buying across the index heavy weights. The positive sentiment also boosted as the government gave SBI the nod to raise Rs 10,000 Crore through a rights issue. Also, the cement shares joined the rally on talk that cement companies will increase prices by Rs 5 per 50 kg of cement in the western parts of the country. The BSE Sensex grew by 359.93 points to close at 19,363.19 and NSE Nifty closed up by 128.15 points to close at 5,762.75. We expect that the market may gain some grounds during the trading session.
On Friday, the US market closed in green. The DJIA closed higher by 59.99 points at 13,371.72. The S&P 500 index grew by 11.42 points to closed at 1,481.14 while Nasdaq closed lower by 7.17 points at 2,660.96.
Indian ADRs ended in positive territory. In technology sector, Wipro surged (3.94%) along with Infosys by (2.21%) and Patni computers by (1%). In banking sector, ICICI bank and HDFC bank grew by (1.70%) and (0.89%) respectively. VSNL and MTNL grew by (13.39%) and (7.59%) respectively.
The major stock markets in Asia are trading strong. Hang Seng is trading higher by 290.05 points at 28,934.56. Singapore Strait Times is trading up 43.28 points at 3,564.55. Taiwan Weighted is trading at 8,620.19 up by 33.79 points. Seoul Composite is trading with marginal gains at 1,908.01.
The FIIs performed a mixed activity on Friday. The gross equity purchased was Rs5,311.40 Crore and the net debt purchased was Rs126.90 Crore while the gross equity sold was Rs6,289 Crore and net debt sold wasRs0.00 Crore. The net investment of equity stood at (Rs977.60 Crore) and net debt stood at Rs126.90 Crore.
Today, Nifty has support at 5,709 and resistance at 5,857 and BSE Sensex has support at 19,238 and resistance at 19,712.
On Friday, the US market closed in green. The DJIA closed higher by 59.99 points at 13,371.72. The S&P 500 index grew by 11.42 points to closed at 1,481.14 while Nasdaq closed lower by 7.17 points at 2,660.96.
Indian ADRs ended in positive territory. In technology sector, Wipro surged (3.94%) along with Infosys by (2.21%) and Patni computers by (1%). In banking sector, ICICI bank and HDFC bank grew by (1.70%) and (0.89%) respectively. VSNL and MTNL grew by (13.39%) and (7.59%) respectively.
The major stock markets in Asia are trading strong. Hang Seng is trading higher by 290.05 points at 28,934.56. Singapore Strait Times is trading up 43.28 points at 3,564.55. Taiwan Weighted is trading at 8,620.19 up by 33.79 points. Seoul Composite is trading with marginal gains at 1,908.01.
The FIIs performed a mixed activity on Friday. The gross equity purchased was Rs5,311.40 Crore and the net debt purchased was Rs126.90 Crore while the gross equity sold was Rs6,289 Crore and net debt sold wasRs0.00 Crore. The net investment of equity stood at (Rs977.60 Crore) and net debt stood at Rs126.90 Crore.
Today, Nifty has support at 5,709 and resistance at 5,857 and BSE Sensex has support at 19,238 and resistance at 19,712.
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