The Indian Market is likely to have a positive opening today due to mixed cues from the global markets. On Tuesday, The Indian market posted second highest point gain to cross the 16,000 mark and closed on a strong note. Tracking the favoring cues from the global markets, the domestic market opened on a firm note and kept on marching forward throughout the trading session on the back of heavy buying across the sectoral indices. The domestic market rallied by taking the positive cues from the US as J.P. Morgan Chase & Co. agreed to increase its bid to acquire Bear Stearns Cos. JP Morgan lifted its offer for Bear Stearns to 10 U.S. dollars per share from 2 dollars. The revised plan is aimed at soothing Bear Stearns shareholders upset over JP Morgan''s earlier offer. Also the economic data pointed to signs of stability that showed US new homes sales had risen by 3% in February 2008. From the sectoral front, all the sectoral indices posted smart gains. The BSE Sensex closed higher by 928.09 points at 16,217.49 and NSE Nifty closed up by 267.65 points 4,877.50. We expect that the market may give up some of its yesterday's gains during the trading session.
On Tuesday, the US market closed mixed. The Dow Jones Industrial Average (DJIA) closed lower by 16.04 points at 12,532.60 while S&P 500 (SPX) index closed higher by 3.11 points at 1,352.99 and NASDAQ Composite (RIXF) grew by 14.30 points to close at 2,341.05.
The Indian ADRS closed in positive. In technology sector, Infosys grew by (3.03%) along with Wipro by (1.94%) and Satyam by (1.47%). In banking sector, ICICI bank and HDFC bank advanced by (5.75%) and (2.59%) respectively. In telecommunication sector, Tata Communication increased by (0.26%). Sterlite industries inched up by (7.06%).
Today the major stock markets in Asia are trading mixed. Hang Seng is trading higher by 171.77 points at 22,636.29 along with Taiwan Weighted trading up by 19.19 points at 8,814.28 while Japan's Nikkei trading lower by 112.42 points at 12,632.80.
The FIIs on Monday stood as net buyer in equity. The gross equity purchased was Rs4,183.30 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs3,646.10 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was Rs537.20 Crore and net debt was Rs0.00 Crore.
Today, Nifty has support at 4,731 and resistance at 4,952 and BSE Sensex has support at 15,814 and resistance at 16,468.
On Tuesday, the US market closed mixed. The Dow Jones Industrial Average (DJIA) closed lower by 16.04 points at 12,532.60 while S&P 500 (SPX) index closed higher by 3.11 points at 1,352.99 and NASDAQ Composite (RIXF) grew by 14.30 points to close at 2,341.05.
The Indian ADRS closed in positive. In technology sector, Infosys grew by (3.03%) along with Wipro by (1.94%) and Satyam by (1.47%). In banking sector, ICICI bank and HDFC bank advanced by (5.75%) and (2.59%) respectively. In telecommunication sector, Tata Communication increased by (0.26%). Sterlite industries inched up by (7.06%).
Today the major stock markets in Asia are trading mixed. Hang Seng is trading higher by 171.77 points at 22,636.29 along with Taiwan Weighted trading up by 19.19 points at 8,814.28 while Japan's Nikkei trading lower by 112.42 points at 12,632.80.
The FIIs on Monday stood as net buyer in equity. The gross equity purchased was Rs4,183.30 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs3,646.10 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was Rs537.20 Crore and net debt was Rs0.00 Crore.
Today, Nifty has support at 4,731 and resistance at 4,952 and BSE Sensex has support at 15,814 and resistance at 16,468.
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