The Indian Market is expected to have negative opening on the back of weak global cues as the US market closed in red while the Asian markets are going through negative sentiment. On Friday, the Indian market closed downbeat after giving up its earlier gains due to heavy selling pressure in key indices. The market opened with the positive attitude tracking the global cues but was not able to sustain the momentum after release of inflation figure which was more than expectation as stood at 7.82% as against 7.83% of previous week. This led the investors to book their positions which in turn forced the market to close in red. The metal and oil & gas stocks were not in favour on account of heavy selling force. The BSE Sensex closed lower by 257.47 points at 16,649.64 and NSE Nifty fell by 78.9 points to close at 4,946.55. We expect that the market may suffer during the trading session.
On Friday, the US market closed in negative territory. The Dow Jones Industrial Average (DJIA) closed lower by 145.99 points at 12,479.63 along with NASDAQ fell by 19.91 points to close at 2,444.67 and S&P 500 dropped by 18.42 points to close at 1,375.93.
Indian ADRS ended down. In technology sector, Satyam fell by (3.40%) along with Wipro by (2.50%), Infosys by (2.47%) and Patni Computers by (0.16%). In banking sector, Infosys bank and HDFC bank decreased by (3.64%) and (1.37%) respectively. In telecommunication sector, Tata Communication and MTNL dropped by (1.37%) and (0.61%). Sterlite industries inclined by (3.71%).
Today the major stock markets in Asia are trading weak. Hang Seng index is trading lower by 569.89 points at 24,144.18 along with Japan’s Nikkei trading down by 312.35 points at 13,699.85 and Taiwan Weighted trading at 8,717.79 down by 116.94 points.
The FIIs Friday stood as net seller in equity. The gross equity purchased was Rs2,226.00 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs2,776.70 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was (Rs550.70) Crore and net debt was Rs0.00 Crore.
Today, Nifty has support at 4,892 and resistance at 5,027 and BSE Sensex has support at 16,340 and resistance at 16,900.
On Friday, the US market closed in negative territory. The Dow Jones Industrial Average (DJIA) closed lower by 145.99 points at 12,479.63 along with NASDAQ fell by 19.91 points to close at 2,444.67 and S&P 500 dropped by 18.42 points to close at 1,375.93.
Indian ADRS ended down. In technology sector, Satyam fell by (3.40%) along with Wipro by (2.50%), Infosys by (2.47%) and Patni Computers by (0.16%). In banking sector, Infosys bank and HDFC bank decreased by (3.64%) and (1.37%) respectively. In telecommunication sector, Tata Communication and MTNL dropped by (1.37%) and (0.61%). Sterlite industries inclined by (3.71%).
Today the major stock markets in Asia are trading weak. Hang Seng index is trading lower by 569.89 points at 24,144.18 along with Japan’s Nikkei trading down by 312.35 points at 13,699.85 and Taiwan Weighted trading at 8,717.79 down by 116.94 points.
The FIIs Friday stood as net seller in equity. The gross equity purchased was Rs2,226.00 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs2,776.70 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was (Rs550.70) Crore and net debt was Rs0.00 Crore.
Today, Nifty has support at 4,892 and resistance at 5,027 and BSE Sensex has support at 16,340 and resistance at 16,900.
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