Pre Market Watch

Indian market is likely to have positive opening as the US market closed in green. On Tuesday, the Indian market fell to closed lower as the cues from global markets are not in favor. The BSE Sensex closed lower by 119.81 points at 19,127.73 and NSE Nifty fell by 33.55 points to close at 5,698.15. We expect that the market will remain range bound during the trading session.

On Tuesday, the US market closed in positive territory. The DJIA closed higher by 215 points at 12,958.44. The Nasdaq and S&P 500 index grew by 39.81 points and 21.01 points at 2,580.80 and 1,428.23 respectively.

Indian ADRs ended in positive. In technology sector, Wipro is trading higher by (2.79%) along with Infosys by (2.56%), Patni computers by (2.28%) and Satyam by (2.07%). In banking sector, HDFC bank and ICICI bank fell (6.82%) and (6.51%) respectively. VSNL and MTNL grew by (8.36%) and (5.36%) respectively.

The major stock markets in Asia are trading on the back foot. Hang Seng is trading lower by 176.35 points at 27,033.86. Japan''s Nikkei dropped by 43.40 points at 15,179.45. Singapore Strait times is trading marginally lower by 4.02 points at 3,368.62. Taiwan weighted slipped by 18.81 points to trade at 8,356.95 and Seoul Composite dropped by 3.05 points to trade at 1,856.74.

The FIIs stood as the net buyer yesterday as the gross equity purchased was Rs.3,325.50 (in crores) and the gross debt purchased was Rs184.60 (in crores). The gross equity sold was Rs2,855.30 (in crores), and the gross debt sold was Rs35 (in crores). The net investment of equity was Rs470.20 (in crores) and the net debt investment was Rs149.60 (in crores).

Today, Nifty has support at 5,653 and resistance at 5,791 and BSE Sensex has support at 18,967 and resistance at 19,539.