Pre Market Watch

Indian market is likely to have a positive start for the day, as the issue pertaining to the P-Notes has almost faded. Further the global markets are also giving supportive cues. On Friday, the benchmark index Sensex ended with a gain of 472.28 points at 19,243.17 after touching the all time high of 19276.45, whereas Nifty also closed with a gain of 133.35 points to close at 5702.30. We expect that the market may trade a little cautious ahead of the RBI''s monetary policy on 30th Oct.

On Friday, the US markets ended in green territory as the Dow Jones Industrial Average (DJIA) ended up by 134.78 points to close at 13,806.70. Further the NASDAQ Composite & S&P 500 (SPX) index also closed higher by 53.33 points & 20.88 points at 2,804.19 & 1,535.28 respectively.

Indian ADRs also ended positive. In telecommunication sector, VSNL & MTNL surged (8.70%) & (1.74%) respectively. In Metal sector, Sterlite Industries is up by (7.44%). In Banking sector ICICI bank & HDFC bank grew (11.01%) & (10.18%). Further in Technology sector, Satyam increased by (6.65%) along with Patni Computers by (4.18%), Wipro (3.19%) & Infosys (1.32%).

The major stock markets in Asia are trading strong. Hang Seng is trading with the record high gain of 1424.38 points at 31,278.87. Along with this, Japan''s Nikkei is trading higher by 195.16 points to trade at 16,700.79. Singapore''s Straits Times index is also trading positive by 24.94 points at 3,796.49 and Seoul Composite is up by 31.13 points to trade at 2,059.19.

On 26th October, the FIIs stood as the net buyers as the gross equity purchased was Rs.7678.50 (in crores), and the gross debt purchased was Rs.106.10 (in crores) as against the gross equity sold was Rs.7465.50 (in crores) and the gross debt sold was Rs.0.00 (in crores). The net investment of equity was Rs.213 (in crores) and the net debt investment was Rs.106.10 (in crores).

Today, Nifty has support at 5,608 and resistance at 5,805 and BSE Sensex has support at 19,100 and resistance at 19,403.