The Indian Market is likely to have a negative opening on the back of weak cue from the global markets. Yesterday the Indian market closed with marginal gains after struggling a lot throughout the trading session. A lot of volatility was seen in yesterday''s trading session. However, both the Mid Cap and Small Cap indices outperformed the benchmark indices as most buying was seen from these baskets. The Nifty December futures closed at 6,007.50, up 218 points while the Nifty January futures closed at 6,001.55 up 226 points. The BSE Sensex closed with marginal gains of 24.20 points at 20,216.72 and NSE Nifty closed up by 10.75 points at 6,081.50. We expect the market to remain cautious during the trading session.
On Thursday the US market closed in red. The Dow Jones Industrial Average (DJIA) closed lower by 192.08 points at 13,359.61. S&P 500 index fell by 21.39 points at 1,476.27 and NASDAQ dropped by 47.62 points to close at 2,676.79.
India ADRs ended in negative territory. In technology sector, Satyam fell by (5.91%) along with Wipro by (4.70%) and Infosys by (2.19%). In banking sector, ICICI bank and HDFC bank fell by (5.79%) and (5.17%) respectively. VSNL and MTNL decreased by (5.12%) and (2.70%) respectively.
The major stock markets in Asia are trading weak. Japan''s Nikkei is trading lower by 257 points at 15,307.78. Hang Seng index is trading down by 300 points at 27,543.27. Taiwan Weighted is down by 22 points to trade at 8,292.08. Sanghai Composite is trading lower by 21.78 points at 5,287.11. Strait Times is down by 21.43 points at 3,455.77.
On Thursday, the FIIs stood as net buyers in equity while no transaction was reported in debt. The gross equity purchased was Rs4,727.30 Crore while the gross equity sold stood at Rs2,306.80 Crore. Therefore, the net investment of equity reported was Rs2,420.50 Crore.
Today, Nifty has support at 5,948 and resistance at 6,136 and BSE Sensex has support at 19,829 and resistance at 20,341.
On Thursday the US market closed in red. The Dow Jones Industrial Average (DJIA) closed lower by 192.08 points at 13,359.61. S&P 500 index fell by 21.39 points at 1,476.27 and NASDAQ dropped by 47.62 points to close at 2,676.79.
India ADRs ended in negative territory. In technology sector, Satyam fell by (5.91%) along with Wipro by (4.70%) and Infosys by (2.19%). In banking sector, ICICI bank and HDFC bank fell by (5.79%) and (5.17%) respectively. VSNL and MTNL decreased by (5.12%) and (2.70%) respectively.
The major stock markets in Asia are trading weak. Japan''s Nikkei is trading lower by 257 points at 15,307.78. Hang Seng index is trading down by 300 points at 27,543.27. Taiwan Weighted is down by 22 points to trade at 8,292.08. Sanghai Composite is trading lower by 21.78 points at 5,287.11. Strait Times is down by 21.43 points at 3,455.77.
On Thursday, the FIIs stood as net buyers in equity while no transaction was reported in debt. The gross equity purchased was Rs4,727.30 Crore while the gross equity sold stood at Rs2,306.80 Crore. Therefore, the net investment of equity reported was Rs2,420.50 Crore.
Today, Nifty has support at 5,948 and resistance at 6,136 and BSE Sensex has support at 19,829 and resistance at 20,341.
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