The Indian Market is likely to have a positive opening due to favoring cues from the Asian markets. Yesterday, the Indian market closed in red but considering the initial set back, it has managed to recover some ground during the final trading hours of the session. The market opened with circuit down on the back of negative cues from the global markets and was suspended for an hour. The BSE Sensex closed lower by 875.41 points at 16,729.94 and NSE Nifty fell by 309.5 points to close at 4,899.30. We expect that the market may remain volatile during the trading session. The Federal Open Market Committee has approved the 75 basis point inter meeting cut in the fed funds rate to 3.50%.
On Tuesday, the US market closed in red. The Dow Jones Industrial Average (DJIA) closed lower by 127.62 points at 11,971.68. S&P 500 index slipped by 14.69 points to close at 1,310.50 and NASDAQ dropped by 47.75 points to close at 2,292.27
Indian ADRS closed in mixed. In technology sector, Satyam grew by (3.46%) along with Wipro by (1.32%) and Infosys by (0.13%). In banking sector, HDFC bank and ICICI bank slipped by (4.61%) and (1.06%) respectively. MTNL and VSNL dropped by (17.22%) and (12.05%) respectively.
The major stock markets in Asia are trading firm. Hang Seng is trading higher by 1584.55 points at 23,342.18 along with Japan''s Nikkei trading up by 421.27 points at 12,994.32 and Singapore Starit Times is trading at 2,951.82 up by 85.27 points.
On Tuesday, the FIIs stood as net seller both in equity and debt. The gross equity purchased was Rs4,896.90 Crore and the gross debt purchased was Rs142.40 Crore while the gross equity sold stood at Rs7,322.50 Crore and gross debt sold stood at Rs236.40 Crore. Therefore, the net investment of equity reported was (Rs2,425.70 Crore) and net debt was (Rs93.90 Crore).
Today, Nifty has support at 4,789 and resistance at 5,043 and BSE Sensex has support at 16,372 and resistance at 17,681.
On Tuesday, the US market closed in red. The Dow Jones Industrial Average (DJIA) closed lower by 127.62 points at 11,971.68. S&P 500 index slipped by 14.69 points to close at 1,310.50 and NASDAQ dropped by 47.75 points to close at 2,292.27
Indian ADRS closed in mixed. In technology sector, Satyam grew by (3.46%) along with Wipro by (1.32%) and Infosys by (0.13%). In banking sector, HDFC bank and ICICI bank slipped by (4.61%) and (1.06%) respectively. MTNL and VSNL dropped by (17.22%) and (12.05%) respectively.
The major stock markets in Asia are trading firm. Hang Seng is trading higher by 1584.55 points at 23,342.18 along with Japan''s Nikkei trading up by 421.27 points at 12,994.32 and Singapore Starit Times is trading at 2,951.82 up by 85.27 points.
On Tuesday, the FIIs stood as net seller both in equity and debt. The gross equity purchased was Rs4,896.90 Crore and the gross debt purchased was Rs142.40 Crore while the gross equity sold stood at Rs7,322.50 Crore and gross debt sold stood at Rs236.40 Crore. Therefore, the net investment of equity reported was (Rs2,425.70 Crore) and net debt was (Rs93.90 Crore).
Today, Nifty has support at 4,789 and resistance at 5,043 and BSE Sensex has support at 16,372 and resistance at 17,681.
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