The Indian Market is likely to have a negative opening due to weak cues from the global markets. On Thursday, the market closed with handsome gains by creating a rally across the sectoral indices. The market opened on a firm note taking the strong favoring cues from the global markets i.e. an unexpected rise in US retail sales in Janurary 2008 that gave a boost to the domestic market. In the domestic front, the central government approved the proposal for a hike in retail fuel prices i.e. Rs 2 per litre for petrol while Re 1 for diesel. The BSE Sensex closed higher by 817.49 points at 17,766.63 and NSE Nifty grew by 272.55 points to close at 5,202. We expect that the market may lose grounds during the trading session.
On Thursday, the US market closed in red. The Dow Jones Industrial Average (DJIA) closed lower by 175.26 points at 12,376.98. S&P 500 index fell by 18.35 points to close at 1,348.86 and NASDAQ dropped by 41.39 points to close at 2,332.54
Indian ADRS ended in negative. In technology sector, Satyam fell by (4.57%) along with Infosys by (1.28%%) while Wipro grew by (1.20%). In banking sector, HDFC bank dropped by 0.56% while ICICI bank jumped by (0.87%). Sterlite Inds increased by (1.35%).
The major stock markets in Asia are trading strong. Hang Seng is trading higher by 706.66 points at 23,876.21 along with Japan''s Nikkei trading up by 364.74 points at 13,433.04 and Taiwan Weighted is trading at 7,772.07 up by 221.52 points.
The FIIs on Thursday stood as net buyer both in equity and debt. The gross equity purchased was Rs3,969.90 Crore and the gross debt purchased was Rs322.30 Crore while the gross equity sold stood at Rs3,620.90 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was Rs349 Crore and net debt was Rs322.30 Crore.
Today, Nifty has support at 5,117 and resistance at 5,309 and BSE Sensex has support at 17,019 and resistance at 18,056.
On Thursday, the US market closed in red. The Dow Jones Industrial Average (DJIA) closed lower by 175.26 points at 12,376.98. S&P 500 index fell by 18.35 points to close at 1,348.86 and NASDAQ dropped by 41.39 points to close at 2,332.54
Indian ADRS ended in negative. In technology sector, Satyam fell by (4.57%) along with Infosys by (1.28%%) while Wipro grew by (1.20%). In banking sector, HDFC bank dropped by 0.56% while ICICI bank jumped by (0.87%). Sterlite Inds increased by (1.35%).
The major stock markets in Asia are trading strong. Hang Seng is trading higher by 706.66 points at 23,876.21 along with Japan''s Nikkei trading up by 364.74 points at 13,433.04 and Taiwan Weighted is trading at 7,772.07 up by 221.52 points.
The FIIs on Thursday stood as net buyer both in equity and debt. The gross equity purchased was Rs3,969.90 Crore and the gross debt purchased was Rs322.30 Crore while the gross equity sold stood at Rs3,620.90 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was Rs349 Crore and net debt was Rs322.30 Crore.
Today, Nifty has support at 5,117 and resistance at 5,309 and BSE Sensex has support at 17,019 and resistance at 18,056.
