New Page 1 On the back of the mixed bag performance of the Asian indices.
Indian market is expected to remain volatileToday, the Indian markets are expected to continue its volatile trading streak on the back of mixed global cues. The US market on Friday closed with decent gains, however the Asian markets in todays trade were giving a mixed bag performance. Amongst the Asian indices, Nikkei 225, Shanghai Composite and Straits Times were trading with the gains in the range of 0.17%-1.87%, while Hang Seng amd Taiwan Weighted recorded marginal fall of 0.09%-0.12%. Among the local indices, the Nifty could test the 5000- 5150 range on the upside while on the down side it could find support at 4790 and 4660. The Sensex is likely to get support at 16250 and may face resistance at 17200.
The US markets on Friday closed with strong gains and ended the week on the positive note. Dow rose by 78 points to close at 9864.94, while S&P 500 surged by 6 points to 1071.49 and Nasdaq ended 15.35 points up at 2139.28. While the Singapore Nifty, in the today morning's trade was trading marginally higher by 2 points over its previous settlement price.
Among the Indian ADRs trading on the US bourses, it was only VSNL, MTNL and Rediff that closed in positive with the gains in the range of 0.29%-2.02%. While, ADR of Indian IT companies Infosys, Wipro, Satyam were down in the range of 1.72-3.52%, while Tata Motors, HDFC Bank and VSNL and ICICI Bank, MTNL lost over 0.76-5.12% each.
In the commodity space, Crude oil prices advanced marginally, with the Nymex light crude oil for November series rose by $0.08 to close at $71.77 a barrel. In the metals space, the Comex gold for December series declined by $7.70 to settle at $1048.60 a troy ounce.
Daily trend of FII/MF investment in equities
On October 09 2009, domestic mutual funds were net sellers of stocks to the tune of Rs 48.30 crore (purchases worth Rs793.00 crore and sales of Rs841.40 crore.
