The Indian Market is likely to have a positive opening as the cues from the global markets are in favor. On Tuesday, the Indian market closed mixed after a strong rally at the initial stage on the back of favoring global cues. The market takes a u-turn soon after the declaration of the quarterly monetary policy review announced by RBI in which it kept all the key rates- Cash Reserve Ratio, Repo rates, Reverse Repo rates and Bank rates unchanged. But the market was expecting a 25 basis point rate cut by RBI. However, the Mid Caps and Small Caps outperformed the benchmark indices. The BSE Sensex closed lower by 60.84 points at 18,091.94 while NSE Nifty closed up by 6.7 points at 5,280.80. We expect that the market may edge higher during the trading session.
On Tuesday, the US market closed in green. The Dow Jones Industrial Average (DJIA) closed higher by 96.82 points at 12,480.71. S&P 500 index grew by 8.34 points to close at 1,362.30 and NASDAQ increased by 8.15 points to close at 2,358.06.
Indian ADRS closed in mixed. In technology sector, Patni Computers grew by (5.42%) along with Infosys by (1.26%) and Satyam by (0.24%) while Wipro dropped by (1%). In banking sector, ICICI bank fell by (2.61%). VSNL and MTNL dropped by (5.75%) and (1.86%) respectively.
The major stock markets in Asia are trading firm. Hang Seng is trading up by 170.82 points at 24,462.62. Japan''s Nikkei trading higher by 15.71 points at 13,494.57 and Taiwan Weighted is trading at 7,599.98 up by 23.56 points.
The FIIs on Tuesday stood as net seller both in equity and Debt. The gross equity purchased was Rs2,600.30 Crore and the gross debt purchased was Rs288.10 Crore while the gross equity sold stood at Rs4,113.60 Crore and gross debt sold stood at Rs296.60 Crore. Therefore, the net investment of equity reported was (Rs1,513.40 Crore) and net debt was (Rs8.60 Crore).
Today, Nifty has support at 5,212 and resistance at 5,385 and BSE Sensex has support at 17,827 and resistance at 18,356.
On Tuesday, the US market closed in green. The Dow Jones Industrial Average (DJIA) closed higher by 96.82 points at 12,480.71. S&P 500 index grew by 8.34 points to close at 1,362.30 and NASDAQ increased by 8.15 points to close at 2,358.06.
Indian ADRS closed in mixed. In technology sector, Patni Computers grew by (5.42%) along with Infosys by (1.26%) and Satyam by (0.24%) while Wipro dropped by (1%). In banking sector, ICICI bank fell by (2.61%). VSNL and MTNL dropped by (5.75%) and (1.86%) respectively.
The major stock markets in Asia are trading firm. Hang Seng is trading up by 170.82 points at 24,462.62. Japan''s Nikkei trading higher by 15.71 points at 13,494.57 and Taiwan Weighted is trading at 7,599.98 up by 23.56 points.
The FIIs on Tuesday stood as net seller both in equity and Debt. The gross equity purchased was Rs2,600.30 Crore and the gross debt purchased was Rs288.10 Crore while the gross equity sold stood at Rs4,113.60 Crore and gross debt sold stood at Rs296.60 Crore. Therefore, the net investment of equity reported was (Rs1,513.40 Crore) and net debt was (Rs8.60 Crore).
Today, Nifty has support at 5,212 and resistance at 5,385 and BSE Sensex has support at 17,827 and resistance at 18,356.
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