The Indian Market is likely to have a positive opening as the cues from the global markets are in
favor. Yesterday, the market closed on a strong note on the back of heavy buying across the sectoral indices scrips. The market opened with hand some gains backed by favoring cues from the Asian markets and soon pared some of its gains but gained the momentum there after to closed on an upbeat note. The market also took the news by surprise of an intermeeting cut in the fed funds rate 75 basis point to 3.50% by the Federal Open Market Committee and a 75 basis point cut in the discount rate to 4.00%. The BSE Sensex closed up by 864.13 points at 17,594.07 and NSE Nifty grew by 304.1 points to close at 5,203.40. We expect that the market may gain some grounds during the trading session.
On Wednesday, the US market closed in positive. The Dow Jones Industrial Average (DJIA) closed higher by 298.98 points at 12,270.17. S&P 500 index closed up by 28.10 points at 1,338.60 and NASDAQ grew by 24.14 points to close at 2,316.41.
Indian ADRS closed in mixed. In technology sector, Satyam grew by (11.31%) along with Infosys 1.84% while Wipro fell by (0.49%). In banking sector, HDFC bank grew by (2.73%) while ICICI bank slipped (0.47%).
The major stock markets in Asia are trading in green. Hang Seng is trading higher by 166.46 points at 24,256.63. Japan''s Nikkei trading up by 184.86 points at 13,013.92 and Singapore Starit Times is trading at 3,056.56 up by 72.94 points.
On Wednesday, the FIIs stood as net seller both in equity and debt. The gross equity purchased was Rs7,749.20 Crore and the gross debt purchased was Rs116.30 Crore while the gross equity sold stood at Rs10,005.50 Crore and gross debt sold stood at Rs487.40 Crore. Therefore, the net investment of equity reported was (Rs2,256.20 Crore) and net debt was (Rs371.10 Crore).
Today, Nifty has support at 5,148 and resistance at 5,319 and BSE Sensex has support at 17,392 and resistance at 18,036.
favor. Yesterday, the market closed on a strong note on the back of heavy buying across the sectoral indices scrips. The market opened with hand some gains backed by favoring cues from the Asian markets and soon pared some of its gains but gained the momentum there after to closed on an upbeat note. The market also took the news by surprise of an intermeeting cut in the fed funds rate 75 basis point to 3.50% by the Federal Open Market Committee and a 75 basis point cut in the discount rate to 4.00%. The BSE Sensex closed up by 864.13 points at 17,594.07 and NSE Nifty grew by 304.1 points to close at 5,203.40. We expect that the market may gain some grounds during the trading session.On Wednesday, the US market closed in positive. The Dow Jones Industrial Average (DJIA) closed higher by 298.98 points at 12,270.17. S&P 500 index closed up by 28.10 points at 1,338.60 and NASDAQ grew by 24.14 points to close at 2,316.41.
Indian ADRS closed in mixed. In technology sector, Satyam grew by (11.31%) along with Infosys 1.84% while Wipro fell by (0.49%). In banking sector, HDFC bank grew by (2.73%) while ICICI bank slipped (0.47%).
The major stock markets in Asia are trading in green. Hang Seng is trading higher by 166.46 points at 24,256.63. Japan''s Nikkei trading up by 184.86 points at 13,013.92 and Singapore Starit Times is trading at 3,056.56 up by 72.94 points.
On Wednesday, the FIIs stood as net seller both in equity and debt. The gross equity purchased was Rs7,749.20 Crore and the gross debt purchased was Rs116.30 Crore while the gross equity sold stood at Rs10,005.50 Crore and gross debt sold stood at Rs487.40 Crore. Therefore, the net investment of equity reported was (Rs2,256.20 Crore) and net debt was (Rs371.10 Crore).
Today, Nifty has support at 5,148 and resistance at 5,319 and BSE Sensex has support at 17,392 and resistance at 18,036.
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