The Indian Market is likely to have a negative opening today due to unfavoring cues from the global markets. On Wednesday, The Indian market yesterday closed lower on the back of profit booking across the counters. A lot of volatility was witnessed during the trading session on the back of expiry of the March 2008 derivatives contract on Thursday. This led the investors to take calculated steps in booking their positions. The market opened on a firm note tracking the mixed cues from the global markets but all of a sudden lost the momentum to pare all its initial gains as the profit booking prevailed. From the sectoral front, the metal index remained in the limelight as most buying was seen from these baskets. The BSE Sensex closed lower by 130.66 points at 16,086.83 and NSE Nifty fell by 48.65 points to close 4,828.85We expect that the market may continue its yesterday’s losing trend during the trading session.
On Wednesday, the US market closed in negative territory. The Dow Jones Industrial Average (DJIA) closed lower by 109.74 points at 12,422.86 along with S&P 500 (SPX) index fell by 11.86 points to close at 1,341.13 and NASDAQ Composite (RIXF) dropped by 16.69 points to close at 2,324.36.
The US market fell on the back of February durables goods report by the government that raised fresh doubts about the economy of US. As per the commerce department, the durables goods fell 1.7%, which was the second monthly fall in a row. Also, the sales of new homes fell b1.8% in February for the fourth consecutive month as the steep slump in housing continued.
The Indian ADRS closed in negative. In technology sector, Wipro fell by (2.51%) along with Satyam by (1.41%) and Infosys by (0.99%). In banking sector, ICICI bank and HDFC bank dropped by (5.37%) and (2.68%) respectively. In telecommunication sector, MTNL slipped by (1.18%). Sterlite industries decreased up by (3.24%).
Today the major stock markets in Asia are trading weak. Hang Seng is trading lower by 307.10 points at 22,309.91 along with Japan’s Nikkei trading down by 225.65 points at 12,480.98 and Taiwan Weighted trading at 8,597.78 down by 170.24 points.
The FIIs on Wednesday stood as net buyer in equity. The gross equity purchased was Rs5,060.70 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs3,715.40 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was Rs1,345.30 Crore and net debt was Rs0.00 Crore.
Today, Nifty has support at 4,733 and resistance at 4,863 and BSE Sensex has support at 15,597 and resistance at 16,231.
On Wednesday, the US market closed in negative territory. The Dow Jones Industrial Average (DJIA) closed lower by 109.74 points at 12,422.86 along with S&P 500 (SPX) index fell by 11.86 points to close at 1,341.13 and NASDAQ Composite (RIXF) dropped by 16.69 points to close at 2,324.36.
The US market fell on the back of February durables goods report by the government that raised fresh doubts about the economy of US. As per the commerce department, the durables goods fell 1.7%, which was the second monthly fall in a row. Also, the sales of new homes fell b1.8% in February for the fourth consecutive month as the steep slump in housing continued.
The Indian ADRS closed in negative. In technology sector, Wipro fell by (2.51%) along with Satyam by (1.41%) and Infosys by (0.99%). In banking sector, ICICI bank and HDFC bank dropped by (5.37%) and (2.68%) respectively. In telecommunication sector, MTNL slipped by (1.18%). Sterlite industries decreased up by (3.24%).
Today the major stock markets in Asia are trading weak. Hang Seng is trading lower by 307.10 points at 22,309.91 along with Japan’s Nikkei trading down by 225.65 points at 12,480.98 and Taiwan Weighted trading at 8,597.78 down by 170.24 points.
The FIIs on Wednesday stood as net buyer in equity. The gross equity purchased was Rs5,060.70 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs3,715.40 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was Rs1,345.30 Crore and net debt was Rs0.00 Crore.
Today, Nifty has support at 4,733 and resistance at 4,863 and BSE Sensex has support at 15,597 and resistance at 16,231.
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