Pre Market Watch

Indian market is likely to have a positive opening as the Asian market is trading higher and US market closed in green. On Tuesday, the Indian markets ended on a positive note as BSE Sensex closed higher by 53.71 points at 16,899.54 while Nifty grew by 14.7 points to close at 4,946. We expect the market to remain range bound during the trading session.

On Tuesday, the US market closed in positive territory. The Dow Jones Industrial Average (DJIA) improved 19.59 points to close at 13,778.65. The S&P 500 (SPX) index decreased by 0.52 points to close at 1,517.21 and the NASDAQ Composite (RIXF) advanced 15.50 points to close at 2,683.45.

Indian ADRs ended in mixed. In technology sector, Satyam computers grew by (1.82%) along with Wipro and Infosys by (0.58%) and (0.52%) respectively. In banking sector, HDFC bank grew by (0.51%) while ICICI bank fell (0.02%). Tata Motors grew by (0.05%). VSNL and MTNL dropped by (1.27%) and (0.25%) respectively.

The major stock markets in Asia are trading higher. Japan''s Nikkei is trading flat at 16,399.96. Taiwan weighted is trading higher by 131.01 points at 9,236.29. Singapore Strait times trading up by 6.23 points at 3,631.05. Seoul Composite grew by 10.29 points to trade at 1,919.26.

The gross equity purchased was Rs.4,854.20 (in crores), and the gross debt purchased was Rs0.00 (in crores). The gross equity sold was Rs3,569.80 (in crores), and the gross debt sold was Rs0.00 (in crores). The net investment of equity was Rs1,284.40 (in crores) and the net debt investment was Rs0.00 (in crores).

Today, Nifty has support at 4,904 and resistance at 4,995and BSE Sensex has support at 16,780 and resistance at 17,070.