The Indian Market is likely to have a negative opening as the Asian markets are trading weak. On Wednesday, the Indian market closed mixed on the back of heavy selling pressures towards the final trading hours that led the market to pare most of its initial gains. The domestic market opened with a bang tracking the favoring cues from the global markets and kept on marching forward at the initial stage. But the market was unable to sustain at the higher level and fell on the back of weak cues European markets that led to the profit booking across the sectoral indices. Also, the Union budget 2008-09, two days down the line led the investors to take calculated steps to book their positions. The Mid Cap and Small Cap also followed the benchmark indices to close with marginal gains. The BSE Sensex closed higher by 19.80 points at 17,825.99 and NSE Nifty closed marginally lower by 1.65 points at 5,268.40. We expect that the market may lose some grounds during the trading session.On Wednesday, the US market was closed mixed.
The Dow Jones Industrial Average (DJIA) closed marginally higher by 9.36 points at 12,694.28 along with NASDAQ trading up by 8.79 points at 2,353.78 while S&P 500 index closed lower by 1.27 points at 1,380.02.
Indian ADRs ended mixed. Satyam grew by (0.60%) while Infosys and Wpro fell by (0.97%) and (0.16%) respectively. HDFC bank rose by 2.76% while ICICI bank fell by (1.01%).
Today, the major stock markets in Asia are trading strong. Hang Seng is trading lower by 231.99 points at 24,251.85 along with Japan''s Nikkei trading down by 208.06 points at 13,823.24 and Singapore Strait Times is trading at 3,065.06 down by 29.39 points.
The FIIs on Wednesday stood as net buyer in equity. The gross equity purchased was Rs2,369.40 Crore while the gross equity sold stood at Rs2,284 Crore. Therefore, the net investment of equity reported was Rs85.40 Crore.
Today, Nifty has support at 5,163 and resistance at 5,313 and BSE Sensex has support at 17,372 and resistance at 17,996.
The Dow Jones Industrial Average (DJIA) closed marginally higher by 9.36 points at 12,694.28 along with NASDAQ trading up by 8.79 points at 2,353.78 while S&P 500 index closed lower by 1.27 points at 1,380.02.
Indian ADRs ended mixed. Satyam grew by (0.60%) while Infosys and Wpro fell by (0.97%) and (0.16%) respectively. HDFC bank rose by 2.76% while ICICI bank fell by (1.01%).
Today, the major stock markets in Asia are trading strong. Hang Seng is trading lower by 231.99 points at 24,251.85 along with Japan''s Nikkei trading down by 208.06 points at 13,823.24 and Singapore Strait Times is trading at 3,065.06 down by 29.39 points.
The FIIs on Wednesday stood as net buyer in equity. The gross equity purchased was Rs2,369.40 Crore while the gross equity sold stood at Rs2,284 Crore. Therefore, the net investment of equity reported was Rs85.40 Crore.
Today, Nifty has support at 5,163 and resistance at 5,313 and BSE Sensex has support at 17,372 and resistance at 17,996.
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