The Indian market on today is likely to have a positive opening. Yesterday the market closed with marginal gains on the first day of the year 2008. Soon after the firm start, it pared its entire initial gains. The market got the momentum towards the end of the session but the volatility ruled the market throughout the trading session. Most the Asian Markets are remain closed toady yesterday for the celebration of the New Year. As usual, Both the Mid Caps and Small Caps indices remained the centre of attraction as most buying was seen from these baskets. The BSE Sensex closed marginally higher by 13.72 points at 20,300.71 and NSE Nifty grew by 5.75 points to close at 6,144.35. We expect that market may remain volatile during the trading session.
On Tuesday, the US market remains closed for the celebration of the New Year.
The major stock markets in Asia are trading weak. Hang Seng is trading lower by 27.24 points at 27,785.41. Taiwan Weighted is trading down by 19.79 points to trade at 8,486.49. Singapore Strait Times is trading at 3,472.07 down by 10.23 points. South Korea''s Seoul Composite is trading lower by 9.30 points at 1,887.83.
On Tuesday, the FIIs stood as net buyer in equity while net seller in debt. The gross equity purchased was Rs3,041.10 Crore and the gross debt purchased was Rs6.50 Crore while the gross equity sold stood at Rs2,243.30 Crore and gross debt sold stood at Rs18 Crore. Therefore, the net investment of equity reported was Rs797.90 Crore and net debt was (Rs11.50Crore).
Today, Nifty has support at 6,098 and resistance at 6,224 and BSE Sensex has support at 20,132 and resistance at 20,624.
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