The Indian Market is expected to have negative opening on the back of weak global cues as the US market gave up its initial gains despite of fall in crude oil prices and this led to the Asian market to trade on the back foot. Crude oil dropped by $3.92 to close at $141.37 per barrel on the New York Mercantile Exchange. Monday On Monday, the Indian market closed with gains after it pared back its earlier gains. Market opened on the firm note tracking positive cues from the Asian markets and receding political worries as SP is expected to support the UPA in Nuke Deal. Further, it continued the same but during final trading hours it surrendered earlier gains and after a struggle managed to close in green. BSE Sense closed above 13,500 points and NSE Nifty 4,000. From the sectoral front Oil & Gas and Pharma stocks were major sufferers of selling pressure while Metal, IT, Auto and Bank stocks were best performers as witnessed most of the buying in these baskets. The BSE Sensex closed higher by 71.99 points at 13,525.99 and NSE Nifty ended up by 14.00 points at 4,030.00. We expect that market may decline during the trading session.
Us markets closed lower on financial worries and weak energy sector on Monday after the U.S. Independence Day long weekend. The Dow Jones Industrial Average (DJIA) closed lower by 56.58 points at 11,231.96 along with S&P 500 down by 10.59 points to close 1,252.31 and NASDAQ dropped by 2.06 points to close at 2,243.32.
Indian ADRs ended up. In technology sector, Patni Computers ended up by (7.90%) along with Satyam by (5.00%), Wipro by (0.69%) and Infosys by (0.23%). In banking sector, ICICI bank and HDFC bank gained (2.65%) and (0.06%) respectively. In telecommunication sector, MTNL ended without any change and Tata Communication advanced by (2.70%). Sterlite industries declined (0.75%).
Today the major stock markets in Asia are trading weak. Hang Seng index is trading lower by 310.08 points at 21,602.98 along with Japan’s Nikkei trading down by 238.18 points at 13,121.86 and Taiwan Weighted trading at 7,205.55 with a fall of 135.56 points.
The FIIs on Monday stood as net buyer in equity and in debt. The gross equity purchased was Rs3,008.90 Crore and the gross debt purchased was Rs2,083.80 Crore while the gross equity sold stood at Rs2,476.20 Crore and gross debt sold stood at Rs441.50 Crore. Therefore, the net investment of equity reported was Rs532.70 Crore and net debt was Rs1,642.30 Crore.
Today, Nifty has support at 3,848 and resistance at 4,096 and BSE Sensex has support at 13,072 and resistance at 13,764.
Us markets closed lower on financial worries and weak energy sector on Monday after the U.S. Independence Day long weekend. The Dow Jones Industrial Average (DJIA) closed lower by 56.58 points at 11,231.96 along with S&P 500 down by 10.59 points to close 1,252.31 and NASDAQ dropped by 2.06 points to close at 2,243.32.
Indian ADRs ended up. In technology sector, Patni Computers ended up by (7.90%) along with Satyam by (5.00%), Wipro by (0.69%) and Infosys by (0.23%). In banking sector, ICICI bank and HDFC bank gained (2.65%) and (0.06%) respectively. In telecommunication sector, MTNL ended without any change and Tata Communication advanced by (2.70%). Sterlite industries declined (0.75%).
Today the major stock markets in Asia are trading weak. Hang Seng index is trading lower by 310.08 points at 21,602.98 along with Japan’s Nikkei trading down by 238.18 points at 13,121.86 and Taiwan Weighted trading at 7,205.55 with a fall of 135.56 points.
The FIIs on Monday stood as net buyer in equity and in debt. The gross equity purchased was Rs3,008.90 Crore and the gross debt purchased was Rs2,083.80 Crore while the gross equity sold stood at Rs2,476.20 Crore and gross debt sold stood at Rs441.50 Crore. Therefore, the net investment of equity reported was Rs532.70 Crore and net debt was Rs1,642.30 Crore.
Today, Nifty has support at 3,848 and resistance at 4,096 and BSE Sensex has support at 13,072 and resistance at 13,764.
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