The Indian Market is likely to have a positive opening due to firm cues from the global markets. On Thursday, the Indian market closed with good gains on the back of heavy buying across the sectoral indices. Tracking the strong favoring cues from the global markets, the domestic market opened with a bang and kept of hovering in the positive territory throughout the trading session. Also, lower than expected inflation figures that stood at 7.14% for the week ended 5 April 2008 as against 7.41% last week gave a boost to the investor’s sentiment. The Small Cap and Mid Cap also remained the centre of attraction as most buying was also seen from these baskets. From the sectoral point, Metal, Realty and Bankex indices posted heavy gains. The BSE Sensex closed higher by 237.01 points at 16,481.20 and NSE Nifty closed up by 71.1 points at 4,958.40. We expect that the market will see some bull run during the trading session.
On Friday, the US market closed in green. The Dow Jones Industrial Average (DJIA) closed higher by 228.87 points at 12,849.36 along with NASDAQ closed up by 61.14 points at 2,402.97 and S&P index grew by 24.77 points to close at 1,390.33.
The Indian ADRS closed in positive territory. In technology sector, Satyam grew by 7.31% along with Wipro by 5.43%, Infosys by 4.95% and Patni Computers by 2.11%. In banking sector, HDFC Bank and ICICI bank advanced by (2.53%) and (2.25%) respectively. In telecommunication sector, Tata Communication and MTNL increased by (3.18%) and (2.72%) respectively.
Today the major stock markets in Asia are trading firm. Hang Seng index is trading up by 568.92 points at 24,766.70 along with Japan’s Nikkei trading higher by 221.24 points at 13,697.69 and Taiwan Weighted trading at 9,115.08 up by 40.74 points.
Today, Nifty has support at 4,910 and resistance at 5,093 and BSE Sensex has support at 16,242 and resistance at 17,076.
On Friday, the US market closed in green. The Dow Jones Industrial Average (DJIA) closed higher by 228.87 points at 12,849.36 along with NASDAQ closed up by 61.14 points at 2,402.97 and S&P index grew by 24.77 points to close at 1,390.33.
The Indian ADRS closed in positive territory. In technology sector, Satyam grew by 7.31% along with Wipro by 5.43%, Infosys by 4.95% and Patni Computers by 2.11%. In banking sector, HDFC Bank and ICICI bank advanced by (2.53%) and (2.25%) respectively. In telecommunication sector, Tata Communication and MTNL increased by (3.18%) and (2.72%) respectively.
Today the major stock markets in Asia are trading firm. Hang Seng index is trading up by 568.92 points at 24,766.70 along with Japan’s Nikkei trading higher by 221.24 points at 13,697.69 and Taiwan Weighted trading at 9,115.08 up by 40.74 points.
Today, Nifty has support at 4,910 and resistance at 5,093 and BSE Sensex has support at 16,242 and resistance at 17,076.
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