The Indian Market is likely to have a negative opening on the back of weak global cues. On Tuesday, the Indian market closing in red due to unfavoring cues from the European markets as well as the rumors that the CPI (M) was withdrawing its support to the Congress-led UPA government led to the negative sentiments during the final hour of the trading session. Later however, the CPI (M) denied the rumor by saying the alliance was strong. Though it opened in green and continued trade strongly but investors’ cautious behaviour during the closing hours force the market to close in negative. The oil stocks lost ground due to the news from oil ministry that the union cabinet is not going to bear 57% of the total under recovery through oil bonds. The BSE Sensex closed lower by 108.04 points at 16752.86 and NSE Nifty fell by 54.85 points to close at 4,957.80. We expect that the market may be volatile during the trading session.
On Tuesday, the US market closed mixed. The Dow Jones Industrial Average (DJIA) closed lower by 44.13 points at 12,832.18 along with S&P 500 fell by 0.54 points to close at 1,403.04 while NASDAQ went up by 6.63 points to close at 2,495.12.
Indian ADRs ended lower. In technology sector, Infosys dropped by (1.28%) along with Satyam by (1.02%), Wipro by (0.99%) and Patni Computers by (1.47%). In banking sector, ICICI bank went up by (0.54%) and HDFC bank dropped by (1.07%). In telecommunication sector, MTNL and Tata Communication slipped by (2.81%) and (0.64%). Sterlite Ind declined by (1.09%).
Today the major stock markets in Asia are trading mixed. Japan’s Nikkei is trading lower by 2.2 points at 13,951.53 along with Hang Seng index trading down by 316 points at 25,236.52 and Taiwan Weighted trading at 9,007.64 up by 18 points.
The FIIs on Tuesday stood as net seller in equity. The gross equity purchased was Rs2,339.00 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs2,464.40 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was (Rs125.40 Crore) and net debt was Rs0.00 Crore.
Today, Nifty has support at 4,813 and resistance at 5,019 and BSE Sensex has support at 16,368 and resistance at 16,983.
On Tuesday, the US market closed mixed. The Dow Jones Industrial Average (DJIA) closed lower by 44.13 points at 12,832.18 along with S&P 500 fell by 0.54 points to close at 1,403.04 while NASDAQ went up by 6.63 points to close at 2,495.12.
Indian ADRs ended lower. In technology sector, Infosys dropped by (1.28%) along with Satyam by (1.02%), Wipro by (0.99%) and Patni Computers by (1.47%). In banking sector, ICICI bank went up by (0.54%) and HDFC bank dropped by (1.07%). In telecommunication sector, MTNL and Tata Communication slipped by (2.81%) and (0.64%). Sterlite Ind declined by (1.09%).
Today the major stock markets in Asia are trading mixed. Japan’s Nikkei is trading lower by 2.2 points at 13,951.53 along with Hang Seng index trading down by 316 points at 25,236.52 and Taiwan Weighted trading at 9,007.64 up by 18 points.
The FIIs on Tuesday stood as net seller in equity. The gross equity purchased was Rs2,339.00 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs2,464.40 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was (Rs125.40 Crore) and net debt was Rs0.00 Crore.
Today, Nifty has support at 4,813 and resistance at 5,019 and BSE Sensex has support at 16,368 and resistance at 16,983.
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