The Indian Market is likely to have a positive opening as the cues from the global markets are in favor. On Thursday, the Indian Market closed mixed as BSE Sensex closed with marginal gains while NSE Nifty closed in negative. The domestic market opened on a firm note tracking the favoring cues from global markets but was unable to sustain at higher levels and gave up most of its gains. The market remained firm for the first half but lost the grip in the second half due to the expiry of the April 2008 derivatives contract. From the sectoral point, metal stocks remained out of favor as most selling is seen from this basket. The market breadth is weak as 1465 stocks closed in red while 1266 stocks closed in green. The BSE Sensex closed higher by 23.04 points at 16,721.08 and NSE Nifty fell by 22.95 points to close at 4,999.85. We expect that the market may remain volatile during the trading session and the declaration of inflation figures by the government will give further directions to the market.
On Thursday, the US market closed in positive territory. The Dow Jones Industrial Average (DJIA) closed higher by 85.73 points at 12,848.95 along with NASDAQ closed up by 23.71 points at 2,428.92 and S&P grew by 8.89 points to close at 1,388.82.
The Indian ADRS closed mixed. In technology sector, Satyam grew by (4.80%) along with Infosys by (2.11%) and Wipro by (1.30%). In banking sector, ICICI bank and HDFC bak advanced by (2.80%) and (2.71%) respectively. In telecommunication sector, Tata Communication increased by (2.37%) while MTNL decreased by (3.40%).
Today the major stock markets in Asia are trading firm. Japan’s Nikkei is trading up by 271.03 points at 13,811.90 along with Taiwan Weighted trading higher by 22.73 points at 9,013.06 and South Korea’s Seoul Composite trading at 1,818.35 up by 19.01 points.
The FIIs on Thursday stood as net seller both in equity as well as debt. The gross equity purchased was Rs2,927.80 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs3,190.90 Crore and gross debt sold stood at Rs83.60 Crore. Therefore, the net investment of equity reported was (Rs263.10 Crore) and net debt was (Rs83.60 Crore).
Today, Nifty has support at 4,883 and resistance at 5,097 and BSE Sensex has support at 16,232 and resistance at 17,126.
On Thursday, the US market closed in positive territory. The Dow Jones Industrial Average (DJIA) closed higher by 85.73 points at 12,848.95 along with NASDAQ closed up by 23.71 points at 2,428.92 and S&P grew by 8.89 points to close at 1,388.82.
The Indian ADRS closed mixed. In technology sector, Satyam grew by (4.80%) along with Infosys by (2.11%) and Wipro by (1.30%). In banking sector, ICICI bank and HDFC bak advanced by (2.80%) and (2.71%) respectively. In telecommunication sector, Tata Communication increased by (2.37%) while MTNL decreased by (3.40%).
Today the major stock markets in Asia are trading firm. Japan’s Nikkei is trading up by 271.03 points at 13,811.90 along with Taiwan Weighted trading higher by 22.73 points at 9,013.06 and South Korea’s Seoul Composite trading at 1,818.35 up by 19.01 points.
The FIIs on Thursday stood as net seller both in equity as well as debt. The gross equity purchased was Rs2,927.80 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs3,190.90 Crore and gross debt sold stood at Rs83.60 Crore. Therefore, the net investment of equity reported was (Rs263.10 Crore) and net debt was (Rs83.60 Crore).
Today, Nifty has support at 4,883 and resistance at 5,097 and BSE Sensex has support at 16,232 and resistance at 17,126.
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