The Indian Market is likely to have a positive opening today due to favoring cues from the global markets. On Tuesday, the Indian market closed on a firm note and the declaration of results by Infosys gave a boost to the market and it gave a good medium term outlook by increasing the dividend payout ratio to 30% of net profit from 20% currently. Though the market opened on a weak note but managed to recover soon after the declaration of the quarterly results by Infosys. The company represented a marginal growth of 1.46% in net profit to Rs1249 crore for the quarter ended December 2007 as compared to Rs1231 crore reported last year while the yearly net profit grew by 21% to Rs4659 crore as against Rs3856 crore previous year. The BSE Sensex closed higher by 346.02 points at 16,153.66 and NSE Nifty closed up by 101.85 points at 4,879.65. We expect that the market may edge higher during the trading session.
On Tuesday, the US market closed in green. The Dow Jones Industrial Average (DJIA) closed higher by 60.41 points at 12,362.47 along with NASDAQ closed up by 10.22 points at 2,286.04 and S&P index grew by 6.11 points to close at 1,334.43.
The Indian ADRS closed in positive territory. In technology sector, Satyam grew by (8.86%) along with Infosys by (8.51%), Patni Computers by (5.55%) and Wipro by (4.04%). In banking sector, ICICI bank and HDFC Bank advanced by (5.26%) and (4.78%) respectively. In telecommunication sector, Tata Communication and MTNL increased by (5.02%) and (4.36%) respectively. Sterlite industries advanced by (4.06%).
Today the major stock markets in Asia are trading higher. Japan’s Nikkei is trading higher by 184.04 points at 13,174.62 along with Hang Seng index trading up by 104.73 points at 24,006.06 and Taiwan Weighted trading at 9,018.20 up by 93.42 points. Singapore Strait Times trading higher by 29.99 points at 3,086.48.
The FIIs on Tuesday stood as net seller in equity. The gross equity purchased was Rs2,688.70 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs2,720 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was (Rs31.30 Crore) and net debt was Rs0.00 Crore.
Today, Nifty has support at 4,806 and resistance at 4,996 and BSE Sensex has support at 15,847 and resistance at 16,594.
On Tuesday, the US market closed in green. The Dow Jones Industrial Average (DJIA) closed higher by 60.41 points at 12,362.47 along with NASDAQ closed up by 10.22 points at 2,286.04 and S&P index grew by 6.11 points to close at 1,334.43.
The Indian ADRS closed in positive territory. In technology sector, Satyam grew by (8.86%) along with Infosys by (8.51%), Patni Computers by (5.55%) and Wipro by (4.04%). In banking sector, ICICI bank and HDFC Bank advanced by (5.26%) and (4.78%) respectively. In telecommunication sector, Tata Communication and MTNL increased by (5.02%) and (4.36%) respectively. Sterlite industries advanced by (4.06%).
Today the major stock markets in Asia are trading higher. Japan’s Nikkei is trading higher by 184.04 points at 13,174.62 along with Hang Seng index trading up by 104.73 points at 24,006.06 and Taiwan Weighted trading at 9,018.20 up by 93.42 points. Singapore Strait Times trading higher by 29.99 points at 3,086.48.
The FIIs on Tuesday stood as net seller in equity. The gross equity purchased was Rs2,688.70 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs2,720 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was (Rs31.30 Crore) and net debt was Rs0.00 Crore.
Today, Nifty has support at 4,806 and resistance at 4,996 and BSE Sensex has support at 15,847 and resistance at 16,594.
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