Pre Market Commentary - Oct 5 2009

Indian Indices are likely to witness some uncertainty this week, as investors are expected to trade cautiously at higher levels and take guidance from IT major Infosys Technologies, which is scheduled to announce its second quarter results this Friday.

US Stocks ended down for the second consecutive session following the weak unemployment data. Both Dow Jones Industrial Average & Nasdaq were down 0.2% & 0.5% respectively.

Asian markets are however trading mixed at this point in time with Taiwan up 0.5% while Nikkei is down 1.4%. Indian ADRs ended mixed with financials ending in positive terrain. Both HDFC Bank & ICICI Bank registered gains of 0.7% & 2.1% respectively. Among Tech ADR’s, while Wipro & Infosys were up 1.0% & 1.3% respectively, Satyam ended down 0.8%. Tata Motors was the biggest loser down 2.4%.