Indian market is likely to have a negative opening for the day, as the global markets are not giving favorable cues. On Friday, BSE Sensex closed lower by 687.12 points at 19,013.70 and NSE Nifty fell by 207.9 points to close at 5,705.30. The BSE Mid Cap and Small Cap closed with heavy losses of 446.30 points and 579.84 points at 8,893.71 and 12,160.45 respectively. We expect that the market may remain cautious during the trading session.
On Friday, the US market closed in red. The Dow Jones Industrial Average (DJIA) closed lower by 59.19 points at 12,099.30. S&P 500 index slipped by 8.06 points to close at 1,325.19 and NASDAQ dropped by 6.88 points to close at 2,340.02.
Indian ADRs also ended mixed. In telecommunication sector, MTNL plunged by (4.40%) respectively. In Pharma sector, Dr. Redddy''s Lab is down by (0.47%). In Banking sector ICICI bank fell (0.57%). Further in Technology sector, Patni Computers decreased by (1.80%), along with Wipro (3.12%) & Infosys (1.66%).
Today, the major stock markets in Asia are trading weak. Hang Seng is trading lower by 633.15 points at 24,568.72 along with Japan''s Nikkei trading down by 466.01 points at 13,395.28 and Taiwan Weighted is trading at 8,167.45 down by 17.20 points.
On Friday, the FIIs stood as net seller both in equity and debt. The gross equity purchased was Rs4303.30 Crore and the gross debt purchased was Rs78.50 Crore while the gross equity sold stood at Rs6,489.30 Crore and gross debt sold stood at Rs422.40 Crore. Therefore, the net investment of equity reported was (Rs2,186.0 Crore) and net debt was (Rs343.90 Crore).
Today, Nifty has support at 5,512 and resistance at 5,750 and BSE Sensex has support at 18,650 and resistance at 19,120.
On Friday, the US market closed in red. The Dow Jones Industrial Average (DJIA) closed lower by 59.19 points at 12,099.30. S&P 500 index slipped by 8.06 points to close at 1,325.19 and NASDAQ dropped by 6.88 points to close at 2,340.02.
Indian ADRs also ended mixed. In telecommunication sector, MTNL plunged by (4.40%) respectively. In Pharma sector, Dr. Redddy''s Lab is down by (0.47%). In Banking sector ICICI bank fell (0.57%). Further in Technology sector, Patni Computers decreased by (1.80%), along with Wipro (3.12%) & Infosys (1.66%).
Today, the major stock markets in Asia are trading weak. Hang Seng is trading lower by 633.15 points at 24,568.72 along with Japan''s Nikkei trading down by 466.01 points at 13,395.28 and Taiwan Weighted is trading at 8,167.45 down by 17.20 points.
On Friday, the FIIs stood as net seller both in equity and debt. The gross equity purchased was Rs4303.30 Crore and the gross debt purchased was Rs78.50 Crore while the gross equity sold stood at Rs6,489.30 Crore and gross debt sold stood at Rs422.40 Crore. Therefore, the net investment of equity reported was (Rs2,186.0 Crore) and net debt was (Rs343.90 Crore).
Today, Nifty has support at 5,512 and resistance at 5,750 and BSE Sensex has support at 18,650 and resistance at 19,120.
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