Indian market is likely to have a negative opening on the back of negative global cues. On Tuesday, the Indian markets ended on a positive note, as BSE Sensex closed higher by 76.81 points at 14,919.19 while Nifty grew by 18.1 points to close at 4,320.70. We expect the market to trade lower during the trading session.
Tuesday, the US markets closed in deep red The Dow Jones Industrial Average (DJIA) slipped by 280.28 points to close at 13,041.85. The S&P 500 (SPX) index dropped by 34.43 points to close at 1,432.36 and the NASDAQ Composite (RIXF) decreased by 60.61 points to close at 2,500.64.
Indian ADRs ended in negative territory. In technology sector, Wipro declined by (3.57%) along with Satyam by (3.30%), Infosys by (3.24%) and Patni computers by (0.75%). In banking sector, ICICI bank and HDFC bank slipped by (4.73%) and (3.15%) respectively. VSNL and MTNL closed lower by (4.45%) and (3.75%) respectively. Tata Motors slipped by (2.51%).
The major stock markets in Asia are trading weak. Japan''s Nikkei trading lower by 422.62 points at 15,864.87.Hang Seng fell by 533.94 points to trade at 22,829.82. Taiwan weighted decreased by 157.88 points to trade at 8,569.67. Seoul Composite slipped by 33.16 points to trade at 1,796.15.
Today, Nifty has support at 4,150 and resistance at 4,321 and BSE Sensex has support at 14,270 and resistance at 14,920.
Tuesday, the US markets closed in deep red The Dow Jones Industrial Average (DJIA) slipped by 280.28 points to close at 13,041.85. The S&P 500 (SPX) index dropped by 34.43 points to close at 1,432.36 and the NASDAQ Composite (RIXF) decreased by 60.61 points to close at 2,500.64.
Indian ADRs ended in negative territory. In technology sector, Wipro declined by (3.57%) along with Satyam by (3.30%), Infosys by (3.24%) and Patni computers by (0.75%). In banking sector, ICICI bank and HDFC bank slipped by (4.73%) and (3.15%) respectively. VSNL and MTNL closed lower by (4.45%) and (3.75%) respectively. Tata Motors slipped by (2.51%).
The major stock markets in Asia are trading weak. Japan''s Nikkei trading lower by 422.62 points at 15,864.87.Hang Seng fell by 533.94 points to trade at 22,829.82. Taiwan weighted decreased by 157.88 points to trade at 8,569.67. Seoul Composite slipped by 33.16 points to trade at 1,796.15.
Today, Nifty has support at 4,150 and resistance at 4,321 and BSE Sensex has support at 14,270 and resistance at 14,920.
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