The Indian Market is likely to have a positive opening today as the Asian market is trading on the front foot. On Thursday, the Indian market tumbled and closed in deep red territory backed by the global concerns that whether the US Federal Reserve initiative to infuse $200bn into the global finance system will bring a shy of relief to the credit markets. This led to the heavy selling pressures across the sectoral indices. Tracking the weak global cues, the domestic market opened with a huge gap down and kept on drifting down. From the sectoral front, metal, realty and capital goods indices were the most hit as heavy selling was witnessed from these baskets. The BSE Sensex closed lower 770.63 points at 15,357.35 and NSE Nifty fell by 248.4 points to close at 4,623.60. We expect that the market may remain volatile during the trading session and the declaration of inflation figures by the government in the afternoon will give further direction to the market.
On Thursday, the Dow Jones Industrial Average (DJIA) advanced by 35.50 points to close at 12,145.74. The S&P 500 (SPX) index increased by 6.71 points to close at 1,315.48 and the NASDAQ Composite (RIXF) grew 19.74 points to close at 2,263.61.
Today the major stock markets in Asia are trading higher. Hang Seng is trading up by 333.16 points at 22,634.80 followed by Japan''s Nikkei trading higher by 64.19 points at 12,497.63 and Taiwan Weighted trading at 8,260.15 up by 49.16 points.
Indian ADRS closed in mixed. Satyam and Wipro grew by (3.89%) and (0.09%) respectively while Infosys dropped by (1.13%). HDFC bank and ICICI bank dropped by (3.72%) and (1.77%) respectively.
The FIIs on Thursday stood as net buyer in equity. The gross equity purchased was Rs4,150.80 Crore while the gross equity sold stood at Rs4,007.20 Crore. Therefore, the net investment of equity reported was Rs143.60 Crore.
Today, Nifty has support at 4,528 and resistance at 4,648 and BSE Sensex has support at 15,028 and resistance at 15,782.
On Thursday, the Dow Jones Industrial Average (DJIA) advanced by 35.50 points to close at 12,145.74. The S&P 500 (SPX) index increased by 6.71 points to close at 1,315.48 and the NASDAQ Composite (RIXF) grew 19.74 points to close at 2,263.61.
Today the major stock markets in Asia are trading higher. Hang Seng is trading up by 333.16 points at 22,634.80 followed by Japan''s Nikkei trading higher by 64.19 points at 12,497.63 and Taiwan Weighted trading at 8,260.15 up by 49.16 points.
Indian ADRS closed in mixed. Satyam and Wipro grew by (3.89%) and (0.09%) respectively while Infosys dropped by (1.13%). HDFC bank and ICICI bank dropped by (3.72%) and (1.77%) respectively.
The FIIs on Thursday stood as net buyer in equity. The gross equity purchased was Rs4,150.80 Crore while the gross equity sold stood at Rs4,007.20 Crore. Therefore, the net investment of equity reported was Rs143.60 Crore.
Today, Nifty has support at 4,528 and resistance at 4,648 and BSE Sensex has support at 15,028 and resistance at 15,782.
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