The Indian Market is likely to have a positive opening due to favoring cues from the global markets. On Tuesday, the Indian market tumbled in the final trading hours of the session to close in the negative territory. Taking the favoring cues from the global markets, the Indian market opened on a firm note but unable to sustain at higher levels and pare all its gains. The favoring cues from the domestic scenario like India''s industrial output rose 7.6% in December 2007 from a year earlier also fell to hold the gains of the market. The Small Caps and Mid Caps were the most hit as they face heavy selling pressures across the counters. The BSE Sensex closed lower by 22.90 points at 16,608.01 and NSE Nifty fell by 18.75 points to close at 4,838.25. We expect that the market may gain some grounds during the trading session.
On Tuesday, the US market closed in green. The Dow Jones Industrial Average (DJIA) closed higher by 133.40 points at 12,373.41. S&P 500 index grew by 9.73 points to close at 1,348.86 and NASDAQ closed flat at 2,320.04.
Indian ADRS ended mixed. In technology sector, Satyam grew by (2.61%) along with Infosys by (1.45%) and Wipro by (0.86%). In banking sector, HDFC bank jumped by (3.78%). VSNL fell by (3.99%).
Today, the major stock markets in Asia are trading firm. Hang Seng is trading higher by 350.18 points to trade at 23,271.85 along with Japan''s Nikkei trading up by 180.74 points at 13,202.70 and Taiwan Weighted is trading at 7,609.68 up by 56.38 points.
The FIIs on Tuesday stood as net seller both in equity and debt. The gross equity purchased was Rs8,169.90 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs10,015.40 Crore and gross debt sold stood at Rs20 Crore. Therefore, the net investment of equity reported was (Rs1,845.60 Crore) and net debt was (Rs20 Crore).
Today, Nifty has support at 4,743 and resistance at 4,973 and BSE Sensex has support at 16,312 and resistance at 17,128.
On Tuesday, the US market closed in green. The Dow Jones Industrial Average (DJIA) closed higher by 133.40 points at 12,373.41. S&P 500 index grew by 9.73 points to close at 1,348.86 and NASDAQ closed flat at 2,320.04.
Indian ADRS ended mixed. In technology sector, Satyam grew by (2.61%) along with Infosys by (1.45%) and Wipro by (0.86%). In banking sector, HDFC bank jumped by (3.78%). VSNL fell by (3.99%).
Today, the major stock markets in Asia are trading firm. Hang Seng is trading higher by 350.18 points to trade at 23,271.85 along with Japan''s Nikkei trading up by 180.74 points at 13,202.70 and Taiwan Weighted is trading at 7,609.68 up by 56.38 points.
The FIIs on Tuesday stood as net seller both in equity and debt. The gross equity purchased was Rs8,169.90 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs10,015.40 Crore and gross debt sold stood at Rs20 Crore. Therefore, the net investment of equity reported was (Rs1,845.60 Crore) and net debt was (Rs20 Crore).
Today, Nifty has support at 4,743 and resistance at 4,973 and BSE Sensex has support at 16,312 and resistance at 17,128.
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