The Indian Market is likely to have a negative opening due to weak cues from the global markets. On Tuesday, the market closed with marginal gains after struggling a lot throughout the trading session. The market opened on a negative note backed by unfavoring cues from the global markets but managed to recover from the initial fall but unable to sustain at higher levels due to profit booking across the counters and finally closed with little gains. A lot of volatility was witnessed during the trading session and the investors took calculated steps in booking their positions. However, the Small Caps and Mid Caps out performed the benchmark indices as most buying was seen from these baskets. The BSE Sensex closed marginally higher by 2.84 points at 18,663.16 while NSE Nifty closed up by 20.4 points at 5,483.90.We expect that the market will remain cautious during the trading session.
On Tuesday, the US market closed in deep red. The Dow Jones Industrial Average (DJIA) closed lower by 370.03 points at 12,265.13. S&P 500 index dropped by 44.18 points to close at 1,336.64 and NASDAQ fell by 73.28 points to close at 2,309.57
Indian ADRS ended in negative. In technology sector, Infosys fell by 6.65% along with Satyam by 6.46%, Wipro by 6.22%. In banking sector, HDFC bank and ICICI bank dropped by (5.54%) and (4.47%) respectively. MTNL decreased by (5.23%).
The major stock markets in Asia are trading weak. Hang Seng is trading lower by 1327.49 points at 23,481.21 along with Japan''s Nikkei trading down by 567.34 points at 13,178.16 and Singapore Starit Times trading at 2,931.21 down by 107.21 points.
The FIIs on Tuesday stood as net buyer in equity. The gross equity purchased was Rs8,300 Crore while the gross equity sold stood at Rs4,489.30 Crore. Therefore, the net investment of equity reported was Rs3,810.70 Crore.
Today, Nifty has support at 5,262 and resistance at 5,510 and BSE Sensex has support at 17,706 and resistance at 18,748.
On Tuesday, the US market closed in deep red. The Dow Jones Industrial Average (DJIA) closed lower by 370.03 points at 12,265.13. S&P 500 index dropped by 44.18 points to close at 1,336.64 and NASDAQ fell by 73.28 points to close at 2,309.57
Indian ADRS ended in negative. In technology sector, Infosys fell by 6.65% along with Satyam by 6.46%, Wipro by 6.22%. In banking sector, HDFC bank and ICICI bank dropped by (5.54%) and (4.47%) respectively. MTNL decreased by (5.23%).
The major stock markets in Asia are trading weak. Hang Seng is trading lower by 1327.49 points at 23,481.21 along with Japan''s Nikkei trading down by 567.34 points at 13,178.16 and Singapore Starit Times trading at 2,931.21 down by 107.21 points.
The FIIs on Tuesday stood as net buyer in equity. The gross equity purchased was Rs8,300 Crore while the gross equity sold stood at Rs4,489.30 Crore. Therefore, the net investment of equity reported was Rs3,810.70 Crore.
Today, Nifty has support at 5,262 and resistance at 5,510 and BSE Sensex has support at 17,706 and resistance at 18,748.
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