The Indian Market is expected to have positive opening as government won the confidence vote over the nuclear deal, which ensures its continuation. Also, supported by strong global cues as US markets closed with good gains and Asian markets are trading higher and a drop in crude oil prices. On Tuesday, the Indian market closed with good gains. The domestic market opened on flat note, but gathered the momentum to trade firm on hopes that the government will last its term. Further continuous buying support led the market to close on upbeat note. The BSE Sensex ended above 14,000 level and NSE Nifty closed above 4,200 mark. From the sectoral front, the FMCG and Power indices closed with a growth of more than 4%. Along with this huge buying was seen in Metal, Capital Goods, Bank and Oil & Gas stocks. However, Auto stock was only sufferer of negative sentiment. The BSE Sensex closed higher by 254.16 points at 14,104.20 and NSE Nifty ended up by 80.60 points at 4,240.10. We expect that market may see some bull run during the trading session.
UPA government won a vote of confidence in parliament on Tuesday, ensuring the immediate survival of the ruling coalition and a civilian nuclear deal with the United States. The government won 275 votes against 256 for the opposition. Government is now hoped to concentrate on addressing some pressing issues, like hold back the inflation and give a push to manufacturing growth.
On Tuesday, the US market was closed with gains due to the sharp drop in oil prices, which declined by more than $3 a barrel to $127.95 per barrel on the New York Mercantile Exchange. The Dow Jones Industrial Average (DJIA) closed higher by 135.16 points at 11,602.50 along with NASDAQ ended up by 24.43 points at 2,303.96 and S&P 500 index closed higher by 17 points at 1,277.00.
Indian ADRs ended high after government wins confidence. In technology sector, Wipro ended higher by (5.53%) along with Satyam by (5.22%), Infosys by (4.70%) and Patni Computers advanced by (3.44%). In banking sector, ICICI bank and HDFC bank gained (13.12%) and (9.82%) respectively. In telecommunication sector, Tata Communication ended up by (9.42%) and MTNL ended higher by (4.00%). Sterlite industries increased by (1.04%).
Today the major stock markets in Asia are trading higher on strong rebound in Wall Street overnight. Hang Seng index is trading higher by 389.38 points at 22,916.86 along with Taiwan Weighted trading up by 190.36 points at 7,256.01 and Japan’s Nikkei trading at 13,318.65 advanced by 133.69 points.
The FIIs on Tuesday stood as net seller in equity and net buyer in debt. The gross equity purchased was Rs2,939.50 Crore and the gross debt purchased was Rs44.00 Crore while the gross equity sold stood at Rs2,143.10 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was (Rs111.90) Crore and net debt was Rs44.00Crore.
Today, Nifty has support at 4,182 and resistance at 4,412 and BSE Sensex has support at 13,888 and resistance at 14,748.
UPA government won a vote of confidence in parliament on Tuesday, ensuring the immediate survival of the ruling coalition and a civilian nuclear deal with the United States. The government won 275 votes against 256 for the opposition. Government is now hoped to concentrate on addressing some pressing issues, like hold back the inflation and give a push to manufacturing growth.
On Tuesday, the US market was closed with gains due to the sharp drop in oil prices, which declined by more than $3 a barrel to $127.95 per barrel on the New York Mercantile Exchange. The Dow Jones Industrial Average (DJIA) closed higher by 135.16 points at 11,602.50 along with NASDAQ ended up by 24.43 points at 2,303.96 and S&P 500 index closed higher by 17 points at 1,277.00.
Indian ADRs ended high after government wins confidence. In technology sector, Wipro ended higher by (5.53%) along with Satyam by (5.22%), Infosys by (4.70%) and Patni Computers advanced by (3.44%). In banking sector, ICICI bank and HDFC bank gained (13.12%) and (9.82%) respectively. In telecommunication sector, Tata Communication ended up by (9.42%) and MTNL ended higher by (4.00%). Sterlite industries increased by (1.04%).
Today the major stock markets in Asia are trading higher on strong rebound in Wall Street overnight. Hang Seng index is trading higher by 389.38 points at 22,916.86 along with Taiwan Weighted trading up by 190.36 points at 7,256.01 and Japan’s Nikkei trading at 13,318.65 advanced by 133.69 points.
The FIIs on Tuesday stood as net seller in equity and net buyer in debt. The gross equity purchased was Rs2,939.50 Crore and the gross debt purchased was Rs44.00 Crore while the gross equity sold stood at Rs2,143.10 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was (Rs111.90) Crore and net debt was Rs44.00Crore.
Today, Nifty has support at 4,182 and resistance at 4,412 and BSE Sensex has support at 13,888 and resistance at 14,748.
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