The Indian Market is likely to have a positive opening as the Asian Market is trading in green. On Tuesday, the Indian market closed marginally higher. Though the market opened on a weak note tracking the subdued cues from the global markets but finally managed to made a smart comeback after mid session on the back of recovery in the Asian markets. This led to the heavy buying across the sectoral indices to post good gains. From the sectoral point, Realty, Metal and Capital goods indices reported good gains as most buying was seen from these baskets. The IT index today also continued its losing trend as TCS reported poor financial performance for the fourth quarter ended March 2008 in which its net profit fell by 5.95% to Rs1108.81 crore. The BSE Sensex closed higher by 44.54 points at 16,783.87 and NSE Nifty closed up by 12.3 points at 5,049.30. We expect that the market may remain range bound during the trading session.
On Tuesday, the US market closed in red. The Dow Jones Industrial Average (DJIA) closed lower by 104.79 points at 12,720.23 along with S&P dropped by 12.23 points to close at 1,375.94 and NASDAQ index fell by 31.10 points to close at 2,376.94.
The Indian ADRS closed in negative. In technology sector, Satyam fell by 8.24% along with Patni Computers by 6.20%, Wipro by 4.06% and Infosys 3.16%. In banking sector, ICICI bank dropped by (1.13%). In telecommunication sector, Tata Communication and MTNL decreased by (2.71%) and (1.79%) respectively.
Today the major stock markets in Asia are trading in green. Hang Seng index is trading higher by 145.86 points at 25,085.01 along with Japan’s Nikkei trading up by 92.83 points at 13,640.65 and Singapore Strait Times trading at 3,201.26 up by 14.03 points.
The FIIs on Tuesday stood as net buyer in equity. The gross equity purchased was Rs2,893.40 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs2,616 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was Rs277.40 Crore and net debt was Rs0.00 Crore.
Today, Nifty has support at 4,912 and resistance at 5,134 and BSE Sensex has support at 16,314 and resistance at 17,136.
On Tuesday, the US market closed in red. The Dow Jones Industrial Average (DJIA) closed lower by 104.79 points at 12,720.23 along with S&P dropped by 12.23 points to close at 1,375.94 and NASDAQ index fell by 31.10 points to close at 2,376.94.
The Indian ADRS closed in negative. In technology sector, Satyam fell by 8.24% along with Patni Computers by 6.20%, Wipro by 4.06% and Infosys 3.16%. In banking sector, ICICI bank dropped by (1.13%). In telecommunication sector, Tata Communication and MTNL decreased by (2.71%) and (1.79%) respectively.
Today the major stock markets in Asia are trading in green. Hang Seng index is trading higher by 145.86 points at 25,085.01 along with Japan’s Nikkei trading up by 92.83 points at 13,640.65 and Singapore Strait Times trading at 3,201.26 up by 14.03 points.
The FIIs on Tuesday stood as net buyer in equity. The gross equity purchased was Rs2,893.40 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs2,616 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was Rs277.40 Crore and net debt was Rs0.00 Crore.
Today, Nifty has support at 4,912 and resistance at 5,134 and BSE Sensex has support at 16,314 and resistance at 17,136.
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