Market may open on positive note: Ventura Securities

Written By Unknown on Kamis, 05 September 2013 | 10.54

Ventura Securities Technical Report:

Sensex, on Wednesday, rose by 333 points and closed at 18,568, on the back of value buying in bluechips like ICICI Bank , Tata Consultancy Services (TCS) and Reliance Industries as the rupee made a smart pullback. Among the stocks, Bharat Heavy Electricals (BHEL), Tata Motors and Bharti Airtel were the ones which advanced the most while among sector indices, HC, auto and tech ended on a positive note. Market breadth was positive with 1,347 advances against 942 declines.

Nifty was up by 107 points and closed at 5,448. Today we expect the markets to open on a positive note on the back of firm domestic and global cues.
 
US markets ended on a positive note with Dow Jones and Nasdaq up by 0.7 percent and 1.0 percent respectively, as a Senate panel voted to authorize military action in Syria and the Federal Reserve said the economy maintained a "modest to moderate" pace of growth. Today, US markets will witness data releases on ADP non-farm employment change and ISM non manufacturing  PMI.
 

Asian markets are trading positive with Nikkei and Hang Seng up by 0.1 percent and 0.7 percent respectively. SGX Nifty is trading up by 114 points at 5,555. Indian ADRs ended on a positive note. Among financial ADRs, ICICI Bank and HDFC Bank were up by 5.7 percent and 3.6 percent respectively. Among IT ADRs, Wipro and Infosys were up by 4.8 percent and 2.8 percent respectively. Tata Motors was up by 5.3 percent.

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