Pre Market Watch

Indian market is likely to have positive opening as the US market closed in green and Asian Market is trading firm. On Wednesday, the Indian markets make a turnaround after the mid session by paring all its initial gains to close in a negative territory. Heavy selling pressure led the indices to close lower. The BSE Sensex closed lower by 188.86 points at 18,938.87 and NSE Nifty fell by 80.6 points to close at 5,617.55. We expect that the market to see some during the trading session.

On Wednesday, the US market closed in positive territory. The DJIA surged 331.01 points to close at 13,289.45. The Nasdaq and S&P 500 index closed higher by 82.11 points and 40.79 points at 2,662.91 and 1,469.02 respectively.

Indian ADRs ended in positive. In technology sector, Satyam is trading up by (8.37%) along with Wipro by (6.26%), Infosys by (4.79%) and Patni computers by (2.74%). In banking sector, HDFC bank and ICICI bank grew (5.43%) and (3.38%) respectively. VSNL and MTNL advanced by (4.27%) and (4.26%) respectively.

The major stock markets in Asia are trading strong. Hang Seng is trading higher by 908.71 points at 28,279.95. Japan''s Nikkei is trading up by 361.02 points at 15,514.80. Singapore Strait times is trading at 3,454.34 up by 84.62 points. Taiwan weighted advanced by 165.88 points to trade at 8,8442.14 and Seoul Composite grew by 47.45 points to trade at 1,882.14.

The FIIs stood as the net seller yesterday as the gross equity purchased was Rs.3,467 (in crores) and the gross debt purchased was Rs0.00 (in crores). The gross equity sold was Rs3,730.60 (in crores), and the gross debt sold was Rs225.30 (in crores). The net investment of equity was -Rs263.60 (in crores) and the net debt investment was -Rs225.30 (in crores).

Today, Nifty has support at 5,592 and resistance at 5,759 and BSE Sensex has support at 18,843 and resistance at 19,315.