Pre Market Watch

Indian market is likely to have positive opening due to positive global cues. On Tuesday, the BSE Sensex closed lower by 190.11 points at 19,400.67 and Nifty fell 60.8 points to close at 5,786.50. We expect the market trade higher during the trading session.

Tuesday, the US markets closed in green. The Dow Jones Industrial Average (DJIA) grew by 117.54 points to close at 13,660.94 along with NASDAQ Composite and S&P 500 closed higher by 30 points and 18.10 points at 2,825.18 and 1,520.27 respectively.

Indian ADRs ended in mixed. In banking sector, HDFC bank & ICICIC bank grew by (3.30%) and (2.22%) respectively. In technology sector, Infosys fell by (6.90%) along with Wipro by (6.29%), Satyam by (3.80%) and Patni computers by (1.28%). In telecommunication sector, VSNL advanced by (2.14%) while MTNL slipped by (0.47%).

The major stock markets in Asia are trading strong. Japan''''s Nikkei is trading up by 69.17 points at 16,318.80. Hang Seng is trading higher by 370.54 points at 29,808.67. Taiwan weighted advanced by 92.78 points to trade at 9,385.58. Seoul Composite is trading higher by 19.24 points at 2,073.48.

Yesterday, FIIs stood as the net seller as the gross equity purchased by them was Rs.4,550.20 (in crores), and the gross debt purchased was Rs.0.00 (in crores) as against the gross equity sold was Rs.5,207.10 (in crores) and the gross debt sold was Rs.0.00 (in crores). The net investment of equity was -Rs.656.90 (in crores) and the net debt investment was Rs.0.00 (in crores).

Today, Nifty has support at 5,761 and resistance at 5,908 and BSE Sensex has support at 19,283 and resistance at 19,792.