The Indian Market is likely to have a negative opening due to unfavoring cues from the global markets. On Monday, the Indian Markets posted good gains during the trading session to close on a satisfactory note by tracking the favoring cues from the global markets irrespective of hike in Cash Reserve Ratio (CRR) by 50 bps by Reserve Bank Of India on last Thursday i.e. 17-04-2008. The market opened with decent gains and kept on hovering in the positive territory throughout the trading session. From the Sectoral point, metal, capital goods and Bankex indices remained in the limelight as most buying was seen from these baskets however IT index gave up its last week winning trend to close on a negative note. The BSE Sensex closed higher by 258.13 points at 16,739.33 and NSE Nifty closed up by 78.6 points at 5,037. We expect that the market may give up its yesterday’s gains during the trading session.
On Monday, the US market closed mixed. The Dow Jones Industrial Average (DJIA) closed lower by 24.34 points at 12,825.02 along with S&P fell by 2.16 points to close at 1,388.17 while NASDAQ index grew by 5.07 points to close at 2,408.04.
The Indian ADRS closed mixed. In technology sector, Patni Computers fell by 4.56% along with Satyam by 3.54%, Infosys by 0.93% and Wipro by 0.88%. In banking sector, ICICI bank and HDFC bank grew by (4.58%) and (2.10%) respectively. In telecommunication sector, MTNL increased by (6.06%) while Tata Communication slipped by (1.34%).
Today the major stock markets in Asia are trading weak. Hang Seng index is trading lower by 245.38 points at 24,476.29 along with Japan’s Nikkei trading down by 153.74 points at 13,542.81 and Taiwan Weighted trading at 9,022.27 down by 61.05 points.
The FIIs on Monday stood as net buyer in equity. The gross equity purchased was Rs4,067.50 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs3,368.50 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was Rs699.00 Crore and net debt was Rs0.00 Crore.
Today, Nifty has support at 4,913 and resistance at 5,128 and BSE Sensex has support at 16,238 and resistance at 17,063.
On Monday, the US market closed mixed. The Dow Jones Industrial Average (DJIA) closed lower by 24.34 points at 12,825.02 along with S&P fell by 2.16 points to close at 1,388.17 while NASDAQ index grew by 5.07 points to close at 2,408.04.
The Indian ADRS closed mixed. In technology sector, Patni Computers fell by 4.56% along with Satyam by 3.54%, Infosys by 0.93% and Wipro by 0.88%. In banking sector, ICICI bank and HDFC bank grew by (4.58%) and (2.10%) respectively. In telecommunication sector, MTNL increased by (6.06%) while Tata Communication slipped by (1.34%).
Today the major stock markets in Asia are trading weak. Hang Seng index is trading lower by 245.38 points at 24,476.29 along with Japan’s Nikkei trading down by 153.74 points at 13,542.81 and Taiwan Weighted trading at 9,022.27 down by 61.05 points.
The FIIs on Monday stood as net buyer in equity. The gross equity purchased was Rs4,067.50 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs3,368.50 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was Rs699.00 Crore and net debt was Rs0.00 Crore.
Today, Nifty has support at 4,913 and resistance at 5,128 and BSE Sensex has support at 16,238 and resistance at 17,063.
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