Pre Open Market Commentary

Indian market is likely to have a positive opening on the Asian Market is trading higher. On Thursday, the Indian markets ended on a positive note, as BSE Sensex closed higher by 128.70 points at 15,121.74 while Nifty grew by 53 points to close at 4,412.30. We expect the market to remain choppy during the trading session.

Thursday, the US markets closed in mixed. The Dow Jones Industrial Average (DJIA) slipped by 50.56 points to close at 13,238.73. The S&P 500 (SPX) index decreased marginally by 6.12 points to close at 1,457.64 and the NASDAQ Composite (RIXF) advanced by 2.14 points to close at 2,565.30.

Indian ADRs ended in negative territory. In technology sector, Infosys slipped by (1.19%) along with Satyam by (0.37%) and Wipro (0.07%) while Patni computers grew by (4.42%). In banking sector, ICICI bank and HDFC bank decreased by (2.55%) and (1.73%) respectively. MTNL dropped by (2.08%) while VSNL closed higher by (4.44%). Tata Motors decreased by (0.30%).

The major stock markets in Asia are trading firm. Japan''s Nikkei trading higher by 181.41 points at 16,335.23.Hang Seng grew by 69.16 points to trade at 23,553.70. Taiwan weighted advanced by 88.36 points to trade at 8,859.57. Seoul Composite increased by 12.89 points to trade at 1,854.59.

Today, Nifty has support at 4,370 and resistance at 4,488 and BSE Sensex has support at 14,980 and resistance at 15,370.