The Indian Market is likely to have a positive opening as Asian Market is trading mixed. On Tuesday, The Indian Market closed with heavy losses for the third straight trading session. Though the market opened higher backed by favoring cues from the global market but was unable to sustain all its gains at higher levels and fell soon after the start of the session. . The investors took calculated steps in booking their further positions, due to Federal Open Market Committee announcement of its interest rates as well as due to expiry of January derivatives contracts today.The BSE Sensex closed lower by 333.20 points at 17,758.64 while NSE Nifty fell by 113.2 points to close at 5,167.60. We expect that the market may remain choppy during the trading session.
The Federal Reserve has cut both the federal funds rate and the discount rate by a half-percentage point. The fed funds rate now stands at 3% and the discount rate is now down to 3.5%. The Fed indicated in its statement that it would cut rates further if necessary.
On Wednesday, the US market closed in negative territory. The Dow Jones Industrial Average (DJIA) closed lower by 37.47 points at 12,442.83. S&P 500 index fell by 6.49 points to close at 1,355.81 and NASDAQ slipped by 9.06 points to close at 2,349.
The major stock markets in Asia are trading mixed. Japan''s Nikkei is trading up by 72.59 points to trade at 13,417.98 and South Korea''s Seoul Composite trading higher by 15.45 points at 1,604.51 while Hang Seng is trading lower by 59.94 points at 23,593.75.
The FIIs on Wednesday stood as net seller in equity. The gross equity purchased was Rs2,924.50 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs3,209.60 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was (Rs285.10 Crore) and net debt was Rs0.00 Crore.
Today, Nifty has support at 5,061 and resistance at 5,252 and BSE Sensex has support at 17,392 and resistance at 18,039.
The Federal Reserve has cut both the federal funds rate and the discount rate by a half-percentage point. The fed funds rate now stands at 3% and the discount rate is now down to 3.5%. The Fed indicated in its statement that it would cut rates further if necessary.
On Wednesday, the US market closed in negative territory. The Dow Jones Industrial Average (DJIA) closed lower by 37.47 points at 12,442.83. S&P 500 index fell by 6.49 points to close at 1,355.81 and NASDAQ slipped by 9.06 points to close at 2,349.
The major stock markets in Asia are trading mixed. Japan''s Nikkei is trading up by 72.59 points to trade at 13,417.98 and South Korea''s Seoul Composite trading higher by 15.45 points at 1,604.51 while Hang Seng is trading lower by 59.94 points at 23,593.75.
The FIIs on Wednesday stood as net seller in equity. The gross equity purchased was Rs2,924.50 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs3,209.60 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was (Rs285.10 Crore) and net debt was Rs0.00 Crore.
Today, Nifty has support at 5,061 and resistance at 5,252 and BSE Sensex has support at 17,392 and resistance at 18,039.
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