The Indian Market is likely to have a positive opening today due to favoring cues from the Asian markets. On Friday The Indian market closed higher tracking the favoring the cues from the global markets as well as from the domestic arena like the strong IIP figures that grew by 8.6% in February 2008 as against previous month growth of 5.8%. The market opened with a with heavy gains but it tumbled in the middle due to high inflation figures that rose 7.41% for the week ended 29 March 2008 as against the previous week rise of 7%. From the sectoral front, the capital goods and Oil and Gas stocks remained in the limelight as most buying was seen from these baskets. The BSE Sensex closed higher by 112.54 points at 15,807.64 and NSE Nifty closed up by 44.8 points to close at 4,777.80. We expect that the market may remain range bound during the trading session and the declaration of quarterly results by Infosys may give further direction to the market.
On Monday, the US market closed in negative territory. The Dow Jones Industrial Average (DJIA) closed lower by 23.36 points at 12,302.06 along with NASDAQ fell by 14.42 points to close at 2,275.82 and S&P index dropped by 4.51 points to close at 1,328.32.
The Indian ADRS closed mixed. In technology sector, Infosys grew by (2.09%) along with Wipro by (1%) while Patni Computers and Satyam dropped by (1.23%) and (0.83%) respectively. In banking sector, HDFC bank and ICICI bank fell by (2.76%) and (1.90%) respectively. In telecommunication sector, MTNL and Tata Communication decreased by (1.83%) and (0.70%) respectively. Sterlite industries fell by (0.56%).
Today the major stock markets in Asia are trading higher. Japan’s Nikkei is trading higher by 125.49 points at 13,043 along with Hang Seng index trading up by 59.84 points at 23,871.04 and Taiwan Weighted trading at 8,914.70 up by 22.02 points.
The FIIs on Friday stood as net seller in equity. The gross equity purchased was Rs2,674.70 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs2,989.50 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was (Rs314.80 Crore) and net debt was Rs0.00 Crore.
Today Infosys stock will remain in the limelight as the company is going to announce its quarterly results today.
Today, Nifty has support at 4,673 and resistance at 4,869 and BSE Sensex has support at 15,521 and resistance at 16,169.
On Monday, the US market closed in negative territory. The Dow Jones Industrial Average (DJIA) closed lower by 23.36 points at 12,302.06 along with NASDAQ fell by 14.42 points to close at 2,275.82 and S&P index dropped by 4.51 points to close at 1,328.32.
The Indian ADRS closed mixed. In technology sector, Infosys grew by (2.09%) along with Wipro by (1%) while Patni Computers and Satyam dropped by (1.23%) and (0.83%) respectively. In banking sector, HDFC bank and ICICI bank fell by (2.76%) and (1.90%) respectively. In telecommunication sector, MTNL and Tata Communication decreased by (1.83%) and (0.70%) respectively. Sterlite industries fell by (0.56%).
Today the major stock markets in Asia are trading higher. Japan’s Nikkei is trading higher by 125.49 points at 13,043 along with Hang Seng index trading up by 59.84 points at 23,871.04 and Taiwan Weighted trading at 8,914.70 up by 22.02 points.
The FIIs on Friday stood as net seller in equity. The gross equity purchased was Rs2,674.70 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs2,989.50 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was (Rs314.80 Crore) and net debt was Rs0.00 Crore.
Today Infosys stock will remain in the limelight as the company is going to announce its quarterly results today.
Today, Nifty has support at 4,673 and resistance at 4,869 and BSE Sensex has support at 15,521 and resistance at 16,169.
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