Pre Market Watch

Indian market is likely to have a positive opening as the global cues are in favor. On Friday, the Indian markets ended marginally lower as BSE Sensex closed at 17,773.36 slipped by 3.78 points while Nifty closed lower by 22.8 points at 5, 185.85. We expect the market to trade higher during the trading session.

Friday, the US markets closed in green. The Dow Jones Industrial Average (DJIA) surged 91.70 points to close at 14,066.01. The S&P 500 (SPX) index increased by 14.75 points to close at 1,557.59 and the NASDAQ Composite (RIXF) grew 46.75 points to close at 2,780.32.

Indian ADRs ended in green. In technology sector, Infosys grew by (2.70%) along with Satyam by (2.30%), Wipro by (2.15%) and Patni computers by (1.22%). In banking sector, HDFC bank and ICICI bank rose by (3.88%) and (0.19%) respectively. VSNL and MTNL grew by (3.46%) and (0.62%) respectively. In Metal sector, Sterlite industries surged by (2.86%).

The major stock markets in Asia are trading strong. Hang Seng Index surged by 478.05 points to trade at 28,309.57. Singapore''s Straits Times index trading higher by 41.50 points at 3,864.12. Taiwan Weighted advanced by 109.22 points to trade at 9,726.48.Seoul Composite trading up by 20.10 points at 2,016.13.

On Friday the FII activity was, the gross equity purchased was Rs4, 403.80 (in crores) and the gross debt purchased was Rs237.30 (in crores). The gross equity sold was Rs3,828.80 (in crores), and the gross debt sold was Rs33.50 (in crores). The net investment of equity was Rs575 (in crores) and the net debt investment was Rs203.80 (in crores).

Today, Nifty has support at 5,155 and resistance at 5,280 and BSE Sensex has support at 17,650 and resistance at 18,090.