Due to mix trends in Global market market may be volatile
Overnight marginal gain in US markets and a sharp rise in several Asian indices in the ongoing trading session may help the domestic indices rebound from lower levels. However, lack of clarity in the market and higher volatility may drag down the market. Among the indices, the Nifty could test higher levels at 4855 and has a supports at 4450 and 4300. The Sensex has a likely support at 15200 and may face resistance at 15555.
Indian ADRs were largely mixed on the US bourses. Satyam jumped nearly 3.89%, Rediff, Wipro and Dr Reddy's ended with modest gains. while VSNl, MTNL, Tata Motors, and Patni Computers ended with loss of around 1-3%. However, Infosys slipped marginally.
Crude oil prices in the US market was marginally down, with the Nymex Light Crude oil for April 08 delivery gain 41 cents to close at $110.33 a barrel. However, in the Commodity space, the Comex gold for April 08 series gained $13.30 to settle at $993.80.
Daily trend of FII/MF investment in equities On Mar 12 2008, FIIs were net buyers of stocks to the tune of Rs143.60 crore (purchases worth Rs4150.80 crore and sales of Rs4007.20 crore).
A look at the Indian ADRs
Company Name
Last Close ($)
% Change
Infosys
34.93
-1.13
Satyam
22.41
3.89
Wipro
10.65
0.09
Dr.Reddy's
13.77
0.22
Tata Motors
15.78
-1.31
ICICI Bank
42.24
-1.77
HDFC Bank
98.10
-3.72
MTNL
5.22
-1.69
VSNL (TCL)*
24.08
-3.68
Rediff
7.25
3.42
Patni Computer
10.41
-2.25
(Indian ADRs: Indian companies listed on the New York Stock Exchange)
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