The Indian Market is likely to have a positive opening as the cues from the global markets are in favor. On Thursday, the Indian Market closed in the negative territory for the fourth straight trading session. The market opened on a firm note backed by tracking the interest rate cut of 50 basis point by the US Federal Reserve but all of a sudden lost the momentum takes a U turn to pare all its initial gains. The market manages to recover from the fall towards the mid of he session but lost the grip towards the end of the session to close in red. The Mid Cap and Small Cap also fell as selling was also seen from these baskets. The BSE Sensex closed lower by 109.93 points at 17,648.71 while NSE Nifty fell by 30.15 points to close at 5,137.45. We expect that the market may gain some grounds to some extent during the trading session and the declaration of weekly inflation figure by the government will give further directions to the market.
On Thursday, the US market closed in green. The Dow Jones Industrial Average (DJIA) closed higher by 207.53 points at 12,650.36. S&P 500 index closed up by 22.74 points at 1,378.55 and NASDAQ grew by 40.86 points to close at 2,389.86
Indian ADRS ended mixed. In technology sector, Infosys grew by (3.76%) along with Wipro by (0.75%) while Patni Computers fell by (0.95%). In banking sector, HDFC bank and ICICI bank grew by (1.70%) and (1.30%) respectively.
The major stock markets in Asia are trading strong. Hang Seng is trading higher by 297.30 points at 23,753.04 along with Taiwan Weighted trading up by 127.28 points at 7,648.41 and Singapore Starit Times trading at 2,995.35 up by 13.63 points.
The FIIs on Thursday stood as net seller in equity. The gross equity purchased was Rs2,913.20 Crore while the gross equity sold stood at Rs3,524.60 Crore. Therefore, the net investment of equity reported was (Rs611.40 Crore).
Today, Nifty has support at 5,053 and resistance at 5,229 and BSE Sensex has support at 17,365 and resistance at 17,991.
On Thursday, the US market closed in green. The Dow Jones Industrial Average (DJIA) closed higher by 207.53 points at 12,650.36. S&P 500 index closed up by 22.74 points at 1,378.55 and NASDAQ grew by 40.86 points to close at 2,389.86
Indian ADRS ended mixed. In technology sector, Infosys grew by (3.76%) along with Wipro by (0.75%) while Patni Computers fell by (0.95%). In banking sector, HDFC bank and ICICI bank grew by (1.70%) and (1.30%) respectively.
The major stock markets in Asia are trading strong. Hang Seng is trading higher by 297.30 points at 23,753.04 along with Taiwan Weighted trading up by 127.28 points at 7,648.41 and Singapore Starit Times trading at 2,995.35 up by 13.63 points.
The FIIs on Thursday stood as net seller in equity. The gross equity purchased was Rs2,913.20 Crore while the gross equity sold stood at Rs3,524.60 Crore. Therefore, the net investment of equity reported was (Rs611.40 Crore).
Today, Nifty has support at 5,053 and resistance at 5,229 and BSE Sensex has support at 17,365 and resistance at 17,991.
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