Pre Market Watch

Indian market is likely to have a negative opening, as the Asian markets are trading in red territory. On Friday, the benchmark index Sensex ended up with the gain of 251.88 points at 19,976.23, whereas Nifty closed with a gain of 65.95 points at 5,932.40. We expect that the market will trade in negative zone during the day.

On Friday, the US markets ended marginally higher as the Dow Jones Industrial Average (DJIA) ended 27.23 points up to close at 13,595.10. Further the NASDAQ Composite & S&P 500 (SPX) index moved up by 15.55 points & 1.21 points at 2,810.38 & 1,509.65 respectively.

Indian ADRs ended mixed. In telecommunication sector, VSNL & MTNL surged 3.68% & 2.82% respectively. Further in Banking sector ICICI bank & HDFC bank increased by 3.64% & 0.62%. In Technology sector, Patni Computers decreased by (10.47%), along with Satyam by (0.20%), whereas Infosys and Wipro moved up by 1.40% and 0.49% respectively.

The major stock markets in Asia are trading weak. Hang Seng is trading in red with a loss of 209.94 points at 30,258.40. Along with this, Japan''s Nikkei is trading 154.84 points down at 16,362.64. Singapore''s Straits Times index is also trading lower by 14.81 points at 3,700.51, whereas Seoul Composite lost 6.72 points to trade at 2,012.62.

On Friday, the FIIs were net buyers as the gross equity purchased was Rs.5179.40 (in crores), and the gross debt purchased was Rs.49.60 (in crores) as against the gross equity sold was Rs.4998.80 (in crores) and the gross debt sold was nil. The net investment of equity was Rs.180.60 (in crores) and the net debt investment was Rs.49.60 (in crores).

Today, Nifty has support at 5,750 and resistance at 6,050 and BSE Sensex has support at 19,550 and resistance at 20,100.