The Indian Market is likely to have a positive opening today due to favoring cues from the global markets. On Monday, the domestic market closed on a deep red territory on the back of weak cues from the global markets as well as the announcement of a new accounting norm for companies. The market opened on a sad note and kept on hovering in the negative territory throughout the trading session. The report by the Institute of Chartered Accountants of India (ICAI) cited that the companies have to disclose lsosses on a mark-to-market basis incurred due to derivatives trades from the current financial year onwards (year ending March 2008) and this was as a precursor to making a new accounting standard mandatory from April 2011. This led to the negative sentiments among the investors in the market. From, the sectoral front, all the sectoral indices closed in red. The BSE Sensex closed lower by 726.85 points at 15,644.44 and NSE Nifty fell by 207.5 points at 4,734.50. We expect that the market may gain some ground during the trading session.
On Monday, the US market closed in green. The Dow Jones Industrial Average (DJIA) closed higher by 46.49 points at 12,262.89 along with S&P 500 (SPX) index closed up by 7.48 points at 1,322.70 and NASDAQ Composite (RIXF) grew by 17.92 points to close at 2,279.10.
The Indian ADRS closed mixed. In technology sector, Patni Computers grew by (1.60%) along with Wipro by (1.59%) while Infosys and Satyam fell by (1.46%) and (1.35%) respectively. In banking sector, ICICI bank and HDFC bank dropped by (3.51%) and (3.09%) respectively. In telecommunication sector, Tata Communication decreased by (6.37%). Tata Motors inched up by (1.08%).
Today the major stock markets in Asia are trading firm. Hang Seng is trading higher by 378.92 points at 23,228.12 along with Japan’s Nikkei trading up by 172.45 points at 12,697.99 and Singapore Strait Times trading at 3,032.46 up by 25.10 points.
The FIIs on Monday stood as net seller both in equity as well as in debt. The gross equity purchased was Rs3,235.90 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs3,350.10 Crore and gross debt sold stood at Rs30.70 Crore. Therefore, the net investment of equity reported was (Rs114.30 Crore) and net debt was (Rs30.70 Crore).
Today, Nifty has support at 4,653 and resistance at 4,856 and BSE Sensex has support at 15,406 and resistance at 16,095.
On Monday, the US market closed in green. The Dow Jones Industrial Average (DJIA) closed higher by 46.49 points at 12,262.89 along with S&P 500 (SPX) index closed up by 7.48 points at 1,322.70 and NASDAQ Composite (RIXF) grew by 17.92 points to close at 2,279.10.
The Indian ADRS closed mixed. In technology sector, Patni Computers grew by (1.60%) along with Wipro by (1.59%) while Infosys and Satyam fell by (1.46%) and (1.35%) respectively. In banking sector, ICICI bank and HDFC bank dropped by (3.51%) and (3.09%) respectively. In telecommunication sector, Tata Communication decreased by (6.37%). Tata Motors inched up by (1.08%).
Today the major stock markets in Asia are trading firm. Hang Seng is trading higher by 378.92 points at 23,228.12 along with Japan’s Nikkei trading up by 172.45 points at 12,697.99 and Singapore Strait Times trading at 3,032.46 up by 25.10 points.
The FIIs on Monday stood as net seller both in equity as well as in debt. The gross equity purchased was Rs3,235.90 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs3,350.10 Crore and gross debt sold stood at Rs30.70 Crore. Therefore, the net investment of equity reported was (Rs114.30 Crore) and net debt was (Rs30.70 Crore).
Today, Nifty has support at 4,653 and resistance at 4,856 and BSE Sensex has support at 15,406 and resistance at 16,095.
No comments:
Post a Comment