The Indian Market is likely to have a positive opening as the US market closed mixed. On Friday, the market closed in the negative territory on the back of selling pressures across the counters. The market opened with marginal gains but unable to sustain at the higher levels. The Annual inflation that rose 4.11% in the week ended 26 January 2008 from 3.93% in the week ended 19 January 2008 also add to the negative sentiment to the market. From the sectoral point, IT scrips remained in the limelight as they reported most buying from the counters. The Mid Caps and Small Caps underperformed the benchmark indices as they faced heavy selling pressures. The BSE Sensex closed lower by 62.04 points at 17,464.89 and NSE Nifty fell by 12.9 points to close at 5,120.35. We expect that the market may remain volatile during the trading session and the listing Reliance Power IPO today will give a further direction to the market.
On Friday, the US market closed in mixed. The Dow Jones Industrial Average (DJIA) closed lower by 64.87 points at 12,182.13. S&P 500 index fell by 5.62 points to close at 1,331.29 and NASDAQ closed up by 11.82 points at 2,304.85.
Indian ADRS ended mixed. In technology sector, Satyam grew by (5.30%) along with Infosys by (4.41%) and Wipro by (2.79%). In banking sector, ICICI bank and HDFC bank decreased by (2.50%) and (1.69%) respectively. VSNL fell by (3.52%).
Today, the major stock markets in Asia are trading lower. Hang Seng is trading lower by 264.81 points to trade at 23,204.65 along with Singapore Strait Times trading down by 32.39 points at 2,899.58 and South Korea''s Seoul Composite is trading at 1,642.36 down by 54.21 points.
The FIIs on Friday stood as net seller in equity. The gross equity purchased was Rs2,989.50 Crore while the gross equity sold stood at Rs3,157.90 Crore. Therefore, the net investment of equity reported was (Rs168.40 Crore).
Today, Nifty has support at 5,003 and resistance at 5,219 and BSE Sensex has support at 17,104 and resistance at 17,723.
On Friday, the US market closed in mixed. The Dow Jones Industrial Average (DJIA) closed lower by 64.87 points at 12,182.13. S&P 500 index fell by 5.62 points to close at 1,331.29 and NASDAQ closed up by 11.82 points at 2,304.85.
Indian ADRS ended mixed. In technology sector, Satyam grew by (5.30%) along with Infosys by (4.41%) and Wipro by (2.79%). In banking sector, ICICI bank and HDFC bank decreased by (2.50%) and (1.69%) respectively. VSNL fell by (3.52%).
Today, the major stock markets in Asia are trading lower. Hang Seng is trading lower by 264.81 points to trade at 23,204.65 along with Singapore Strait Times trading down by 32.39 points at 2,899.58 and South Korea''s Seoul Composite is trading at 1,642.36 down by 54.21 points.
The FIIs on Friday stood as net seller in equity. The gross equity purchased was Rs2,989.50 Crore while the gross equity sold stood at Rs3,157.90 Crore. Therefore, the net investment of equity reported was (Rs168.40 Crore).
Today, Nifty has support at 5,003 and resistance at 5,219 and BSE Sensex has support at 17,104 and resistance at 17,723.
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