Pre Market Watch

Indian market is likely to have a flat opening for the day, as the market participants are not much happy with the SEBI''s decision on P-Notes. Further the global markets are also giving mixed cues. On Thursday, the benchmark index Sensex ended higher with a gain of 257.98 points to close at 18,770.89, whereas Nifty also closed in green by 72.80 points to close at 5496.15. We expect that the market may trade little volatile with negative bias.

On Thursday, the US markets ended with marginal losses as the Dow Jones Industrial Average (DJIA) closed down by 3.33 points to close at 13,671.92. Further the NASDAQ Composite & S&P 500 (SPX) index also dropped by 23.90 points & 1.48 points to close at 2,750.86 & 1,514.40 respectively.

Indian ADRs also traded mixed. In telecommunication sector, VSNL surged (3.14%), whereas MTNL is down by (2.95%). However, in metal sector, Sterlite Industries is up by (1.83%). Banking sector also ended in red as the ICICI bank & HDFC bank lost (0.29%) & (2.83%). Further technology sector ended mixed. Satyam decreased by (4.15%) along with Patni Computers by (2.90%), whereas Wipro & Infosys surged (1.25%) and (0.29%).

The major stock markets in Asia are trading higher. Hang Seng is trading with the gain of 188.29 points at 30,042.78. Along with this, Japan''s Nikkei is trading higher by 99.71 points to trade at 16,383.88. Singapore''s Straits Times index is also trading positive by 32.14 points at 3,739.28 and Seoul Composite is up by 25.43 points to trade at 2,002.18.

Yesterday, the FIIs performed mixed activity as the gross equity purchased was Rs.6358.50 (in crores), and the gross debt purchased was Rs.10 (in crores) as against the gross equity sold was Rs.4497.40 (in crores) and the gross debt sold was Rs.109.80 (in crores). The net investment of equity was Rs.1861.10 (in crores) and the net debt investment was Rs.-99.80 (in crores).

Today, Nifty has support at 5,399 and resistance at 5,551 and BSE Sensex has support at 18,565 and resistance at 18,870.