Pre Open Market Commentary

Indian market is likely to have a positive opening as the Asian market is trading higher. On Wednesday, the Indian markets ended on a negative note, as BSE Sensex closed lower by 37.41 points at 15,505.36 while Nifty closed flat at 4,496.85. We expect the market to remain range bound during the trading session.

On Wednesday, the US market closed in negative. The Dow Jones Industrial Average slipped by 16.74 points to close at 13,291.65. The Nasdaq Composite Index decreased by 5.40 points to close at 2,592.07. The S&P 500 index closed flat at 1,471.56.

Indian ADRs ended in mixed. In technology sector, Satyam computers fell by (1.53%) along with Patni computers by (0.45%) and Wipro by (0.22%) respectively while Infosys grew by (0.66%). In banking sector, HDFC bank grew by (0.51%) while ICICI bank slipped by (1.28%). VSNL and MTNL grew by (3.37%) and (0.43%) respectively.

The major stock markets in Asia are trading higher. Japan''s Nikkei trading up by 61.49 points to trade at 15,859.09. Hang Seng grew by 209.48 points to trade at 24,519.62. Singapore Strait times trading higher by 6.42 points at 3,512.51. South Korea,s Seoul composite is trading flat at 1,814.96.

Today, Nifty has support at 4,460 and resistance at 4,558 and BSE Sensex has support at 15,325 and resistance at 15,690.