Gains in US & asian indices may opens market in green.
The gains in overnight US indices and strong ongoing asian indices helps domestic market to witness further uptrend on the back of a bullish sentiment. The Nifty could rise further to 5350-5400 level on the upside while it has a crucial support at 5100 on the downside. The Sensex has a likely support at 17670 and resistance at 17900.
US indices registered gains, with the Dow Jones closing above the level at 12684.92, up 114.70 points, while the Nasdaq moving up by 17.51 points to close at 2344.99.
Indian floats, too, were upbeat on strong domestic and US markets. Except HDFC Bank, other Indian ADRs ended at higher levels. VSNL led the upmove and surged 6.24% while MTNL gained 2.09%, Infosys, Satyam, Wipro, Patni, Tata Motors and ICICI Bank gained around 1% each.
Crude oil prices in the international market gained further, with the Nymex crude oil for April delivery advanced by $1.65 to close at $100.88 a barrel and in the commodity segment, the Comex gold lost $8.40 to settle at $948.90 respectively.
Daily trend of FII/MF investment in equities On Feb 25 2008, FIIs were net buyers of stocks to the tune of Rs738.50 crore (purchases worth Rs3063.50 crore and sales of Rs2325.00 crore) while domestic mutual funds were net sellers of stocks to the tune of Rs140.50 crore (purchases worth Rs960.40 crore and sales of Rs1100.90 crore).
A look at the Indian ADRs
Company Name
Last Close ($)
% Change
Infosys
42.41
0.66
Satyam
26.74
0.49
Wipro
12.31
1.99
Dr.Reddy's
14.32
0.56
Tata Motors
18.14
0.11
ICICI Bank
56.31
1.28
HDFC Bank
113.18
-0.83
MTNL
6.07
2.09
VSNL (TCL)*
25.88
6.24
Rediff
8.37
1.95
Patni Computer
13.19
0.46
(Indian ADRs: Indian companies listed on the New York Stock Exchange)
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