The Indian market is likely to have negative opening due to weak cues from the global markets. Yesterday after having a good start, the market suffered heavy profit booking and cash withdrawal by the investors at a greater volume due to heavy cash outflow from the market for the country''s biggest IPO Reliance Power Ltd. The IPO got a very good response as it subscribed nearly 10 times on the first day of its opening itself. The benchmark indices Sensex closed with heavy loss of 476.96 points at 20,251.09 and Nifty ended lower by 132.55 points to close at 6,074.25. We expect that the market may remain cautious during the trading session.
On Monday, the US market closed in green. The Dow Jones Industrial Average (DJIA) closed higher by 171.85 points at 12,778.15. S&P 500 index grew by 15.23 points to close at 1,416.25 and NASDAQ advanced by 38.36 points to close at 2,478.30.
Indian ADRS closed in negative. In technology sector, Wipro fell by 4.81% along with Patni Computers by 4.49%, Satyam 4.28% and Infosys 3.12%. In banking sector, ICICI bank and HDFC bank slipped by (7.51%) and (7.15%) respectively. VSNL and MTNL decreased by (3.45%) and (0.30%) respectively. Sterlite industries dropped by (8.33%).
The major stock markets in Asia are trading weak. Hang Seng is trading lower by 850.52 points at 24,987.26 along with Japan''s Nikkei is trading down by 130.70 points at 13,841.93 and Taiwan Weighted is trading at 8,316.69 down by 112.15 points.
On Tuesday, the FIIs stood as net buyer both in equity and debt. The gross equity purchased was Rs4521.50 Crore and the gross debt purchased was Rs241.90 Crore while the gross equity sold stood at Rs4347.20 Crore and gross debt sold stood at Rs119.40 Crore. Therefore, the net investment of equity reported was Rs174.40 Crore and net debt was Rs122.40 Crore.
Today, Nifty has support at 5,947 and resistance at 6,119 and BSE Sensex has support at 19,886 and resistance at 20,438.
On Monday, the US market closed in green. The Dow Jones Industrial Average (DJIA) closed higher by 171.85 points at 12,778.15. S&P 500 index grew by 15.23 points to close at 1,416.25 and NASDAQ advanced by 38.36 points to close at 2,478.30.
Indian ADRS closed in negative. In technology sector, Wipro fell by 4.81% along with Patni Computers by 4.49%, Satyam 4.28% and Infosys 3.12%. In banking sector, ICICI bank and HDFC bank slipped by (7.51%) and (7.15%) respectively. VSNL and MTNL decreased by (3.45%) and (0.30%) respectively. Sterlite industries dropped by (8.33%).
The major stock markets in Asia are trading weak. Hang Seng is trading lower by 850.52 points at 24,987.26 along with Japan''s Nikkei is trading down by 130.70 points at 13,841.93 and Taiwan Weighted is trading at 8,316.69 down by 112.15 points.
On Tuesday, the FIIs stood as net buyer both in equity and debt. The gross equity purchased was Rs4521.50 Crore and the gross debt purchased was Rs241.90 Crore while the gross equity sold stood at Rs4347.20 Crore and gross debt sold stood at Rs119.40 Crore. Therefore, the net investment of equity reported was Rs174.40 Crore and net debt was Rs122.40 Crore.
Today, Nifty has support at 5,947 and resistance at 6,119 and BSE Sensex has support at 19,886 and resistance at 20,438.
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