The Indian Market is likely to have a positive opening due to strong favoring cues from the global markets. On Friday, the market closed on an upbeat note tracking favoring cues from the global markets. Heavy buying across the counters led the benchmark indices to beat its four day losing trend. Further the smooth expiry of January 2008 derivatives contracts also gave a boost. The market opened on a firm note but lost the grip soon t but later on gathered the momentum towards the mid session to close with handsome gains. Whereas the Mid cap and Small Cap failed to attract the investors confidence as most selling was seen from these baskets. Inflation based on the wholesale price index (WPI) rose to 3.93% for the week ended 19 January 2008 from 3.83% in the previous week. The BSE Sensex closed higher by 584.71 points at 18,233.42 while NSE Nifty closed up by 179.8 points at 5,317.25. We expect that the market may some see some bull run during the trading session
On Friday, the US market closed in green. The Dow Jones Industrial Average (DJIA) closed higher by 92.83 points at 12,743.19. S&P 500 index closed up by 16.87 points at 1,395.42 and NASDAQ grew by 23.50 points to close at 2,413.36.
Indian ADRS ended in positive. In technology sector, Satyam grew by (5.78%) along with Infosys by (5.07%) and Wipro by (4.64%). In banking sector, ICICI bank and HDFC bank by (2.47%) and (1.42%) respectively.
The major stock markets in Asia are trading firm. Hang Seng is trading up by 895.53 points at 25,019.11 along with Japan''s Nikkei trading higher by 335.24 points at 13,832.40 and Singapore Starit Times trading at 3,080.03 up by 72.23 points.
The FIIs on Friday stood as net seller in equity. The gross equity purchased was Rs5,323.70 Crore while the gross equity sold stood at Rs8,717.10 Crore. Therefore, the net investment of equity reported was (Rs3,993.40 Crore).
Today, Nifty has support at 5,282 and resistance at 5,439 and BSE Sensex has support at 18,038 and resistance at 18,926.
On Friday, the US market closed in green. The Dow Jones Industrial Average (DJIA) closed higher by 92.83 points at 12,743.19. S&P 500 index closed up by 16.87 points at 1,395.42 and NASDAQ grew by 23.50 points to close at 2,413.36.
Indian ADRS ended in positive. In technology sector, Satyam grew by (5.78%) along with Infosys by (5.07%) and Wipro by (4.64%). In banking sector, ICICI bank and HDFC bank by (2.47%) and (1.42%) respectively.
The major stock markets in Asia are trading firm. Hang Seng is trading up by 895.53 points at 25,019.11 along with Japan''s Nikkei trading higher by 335.24 points at 13,832.40 and Singapore Starit Times trading at 3,080.03 up by 72.23 points.
The FIIs on Friday stood as net seller in equity. The gross equity purchased was Rs5,323.70 Crore while the gross equity sold stood at Rs8,717.10 Crore. Therefore, the net investment of equity reported was (Rs3,993.40 Crore).
Today, Nifty has support at 5,282 and resistance at 5,439 and BSE Sensex has support at 18,038 and resistance at 18,926.
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