The Indian Market is likely to have a positive opening today due to strong favoring cues from the global markets. On Tuesday, The Indian market closed mixed on a volatile trading session with Nifty closed marginally higher while BSE Sensex closed just below the dotted line. Though the market opened on a firm note but unable to sustained at higher levels as the profit booking across the counters prevails. The market gathered the momentum after the mid session on the back of selective buying across the sectoral indices. The volatility gripped the market since the initial bell as some arbitrageurs and jobbers stayed away to protest against the change in securities transaction tax, which came into effect from today. From the sectoral front, the Oil and Gas scrips remained in the limelight as most buying was seen from these baskets. The BSE Sensex closed lower by 17.82 points at 15,626.62 while NSE Nifty closed marginally higher by 5.05 points at 4,739.55. We expect that the bulls will rule the market to gain ground during the trading session.
On Tuesday, the US market closed in positive territory. The Dow Jones Industrial Average (DJIA) closed higher by 391.47 points at 12,654.36 along with S&P 500 (SPX) index closed up by 47.48 points at 1,370.18 and NASDAQ Composite (RIXF) grew by 83.65 points to close at 2,362.75.
Today the major stock markets in Asia are trading firm. Hang Seng is trading higher by 1003.56 points at 24,141.02 along with Japan’s Nikkei trading up by 422.69 points at 13,079.11, Taiwan Weighted trading at 8,619.27 up by 199.55 points and Singapore Strait Times trading up by 80.98 points at 3,127.52.
The FIIs on Tuesday stood as net buyer in equity. The gross equity purchased was Rs2,964.20 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs2,953.40 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was Rs10.80 Crore and net debt was Rs30.70 Crore.
The country''s exports registered a 35% growth in February 2008 with the cumulative export growth during the first 11 months of just-ended fiscal 2007-08 showing a robust growth close to 23% in dollar terms, against heavy odds the exporters confronted throughout the year due to the unrelenting increase in the value of rupee. Provisional trade data released by the Directorate-General of Commercial Intelligence & Statistics (DGCI&S) show that the country''s exports during February 2008 were estimated at $14.2 billion, against $10.5 billion in the corresponding month of 2007. At best, exporters say that the final month export figure could at best be $14-15 billion which itself would be a tall order. Interestingly, while the export growth in rupee terms during February 2008 was 21.7%, cumulative export growth during the first 11 months of the fiscal 2007-08 was in single digit at close to 9%.
Today, Nifty has support at 4,714 and resistance at 4,968 and BSE Sensex has support at 15,516 and resistance at 16,573.
On Tuesday, the US market closed in positive territory. The Dow Jones Industrial Average (DJIA) closed higher by 391.47 points at 12,654.36 along with S&P 500 (SPX) index closed up by 47.48 points at 1,370.18 and NASDAQ Composite (RIXF) grew by 83.65 points to close at 2,362.75.
Today the major stock markets in Asia are trading firm. Hang Seng is trading higher by 1003.56 points at 24,141.02 along with Japan’s Nikkei trading up by 422.69 points at 13,079.11, Taiwan Weighted trading at 8,619.27 up by 199.55 points and Singapore Strait Times trading up by 80.98 points at 3,127.52.
The FIIs on Tuesday stood as net buyer in equity. The gross equity purchased was Rs2,964.20 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs2,953.40 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was Rs10.80 Crore and net debt was Rs30.70 Crore.
The country''s exports registered a 35% growth in February 2008 with the cumulative export growth during the first 11 months of just-ended fiscal 2007-08 showing a robust growth close to 23% in dollar terms, against heavy odds the exporters confronted throughout the year due to the unrelenting increase in the value of rupee. Provisional trade data released by the Directorate-General of Commercial Intelligence & Statistics (DGCI&S) show that the country''s exports during February 2008 were estimated at $14.2 billion, against $10.5 billion in the corresponding month of 2007. At best, exporters say that the final month export figure could at best be $14-15 billion which itself would be a tall order. Interestingly, while the export growth in rupee terms during February 2008 was 21.7%, cumulative export growth during the first 11 months of the fiscal 2007-08 was in single digit at close to 9%.
Today, Nifty has support at 4,714 and resistance at 4,968 and BSE Sensex has support at 15,516 and resistance at 16,573.
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