The market is likely to have negative opening on the back of weak global cues. Yesterday, the Indian markets declined drastically by more than 850 points during the trading session on the back of heavy selling pressures across the counters. The cues from the global markets are not in favor, which led the domestic market to trade on the back foot. On Monday, the BSE Sensex closed lower by 769.48 points at 19,261.35 and NSE Nifty fell by 270.7 points to close at 5,777. We expect the market to extend yesterday''s losses today during the trading session.
On Monday, the US market closed in red. The DJIA declined by 172.65 points to close at 13,167.20 along with Nasdaq by 61.28 points to close at 2,574.46 and S&P 500 index by 22.05 points to close at 1,445.90.
Indian ADRs ended in negative territory. In technology sector, Satyam slipped by (5.62%) along with Patni Computers by (3.77%), infosys by (3.69%) and Wipro by (3.45%). In banking sector, HDFC bank and ICICI bank dropped (8.41%) and (7.94%) respectively. In telecommunication sector, VSNL and MTNL dropped by (10.42%) and (6.32%) respectively.
The major stock markets in Asia are trading mixed. Hang Seng is trading lower by 250.37 points at 26,346.21. Japan''s Nikkei is trading down by 117.31 points to close at 15,132.48. Taiwan weighted is trading at 7,799.58 down by 31.27 points. While Singapore Strait times is trading up by 6.34 points at 3,359.90 along with South Korea''s Seoul Composite is trading higher by 7.08 points at 1,846.90.
The FIIs on Monday stood as the net buyer both in equity and debt. The gross equity purchased was Rs4,732.60 Crore and the gross debt purchased was Rs445.90 Crore while the gross equity sold stood at Rs4,325.10 Crore and gross debt sold stood at Rs0.00Crore. Therefore, the net investment of equity reported was Rs407.50 Crore and net debt was Rs445.90Crore.
Today, Nifty has support at 5,612 and resistance at 5,809 and BSE Sensex has support at 18,863 and resistance at 19,329.
On Monday, the US market closed in red. The DJIA declined by 172.65 points to close at 13,167.20 along with Nasdaq by 61.28 points to close at 2,574.46 and S&P 500 index by 22.05 points to close at 1,445.90.
Indian ADRs ended in negative territory. In technology sector, Satyam slipped by (5.62%) along with Patni Computers by (3.77%), infosys by (3.69%) and Wipro by (3.45%). In banking sector, HDFC bank and ICICI bank dropped (8.41%) and (7.94%) respectively. In telecommunication sector, VSNL and MTNL dropped by (10.42%) and (6.32%) respectively.
The major stock markets in Asia are trading mixed. Hang Seng is trading lower by 250.37 points at 26,346.21. Japan''s Nikkei is trading down by 117.31 points to close at 15,132.48. Taiwan weighted is trading at 7,799.58 down by 31.27 points. While Singapore Strait times is trading up by 6.34 points at 3,359.90 along with South Korea''s Seoul Composite is trading higher by 7.08 points at 1,846.90.
The FIIs on Monday stood as the net buyer both in equity and debt. The gross equity purchased was Rs4,732.60 Crore and the gross debt purchased was Rs445.90 Crore while the gross equity sold stood at Rs4,325.10 Crore and gross debt sold stood at Rs0.00Crore. Therefore, the net investment of equity reported was Rs407.50 Crore and net debt was Rs445.90Crore.
Today, Nifty has support at 5,612 and resistance at 5,809 and BSE Sensex has support at 18,863 and resistance at 19,329.
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