Today domestic markets are likely to open marginally positive. The opening trade is mostly likely to be subdued as major Asian markets have dived in red after positive opening. The US stock markets closed with moderate gains after some technical resistance that impeded further northward movement of Dow and S&P 500. In the domestic arena lack of supportive news and yesterday's phenomenal gain would invite some profit booking pressures. Domestic markets are likely to trade lackluster with low intensity volatility and negative bias. On Wednesday, the bulls were in command during the trading session as the benchmark indices surged after a choppy start to close at day's high on heavy buying support across the sectoral indices. This led the NSE (__^NSEI__) Nifty to close above the psychological mark of 5,000. Heavy buying was supported by the firm Asian markets that witnessed sharp rally tracking the Chinese factory output that surged to 19 month high in October underlying the economy''''s brisk recovery from the global downturn. Industrial production in the first 10 months was up 9.4 per cent from the same period last year, compared to a rise of 8.7 per cent in the first nine months. Besides this, the inevestors' sentiments were boosted on the financial reforms announced by the government. The market though opened on a flat note and remained choppy at the initial stage but gained the momentum soon to keep on marching forward till the final closing of the session. The IT stocks came with a bang after Nasscom president said that the sector will regain double digit growth from April 2010. The metal stocks are also up with impressive gains. The bank and realty stocks that remained quite subdued earlier in the day, edged higher as the day progressed. The consumer durables stocks are also back in the reckoning. The BSE Sensex (__^BSESN__) closed higher by 409.04 points or (2.49 per cent) at 16,849.60 and NSE Nifty closed up by 122.25 points or (2.50 per cent) at 5,003.95. The » Send to friends
9:48 AM - The US stock market closed higher on Wednesday after a sharp rebound in US dollar that hit a new 15-month low. There were some strong economic data from Asia and also phenomenal earnings report from major European companies brought a lot of charm amongst investor during the opening session. However as the market progressed the rebound in Dollar resisted the surge of stocks. The Dollar index recovered from its early loss of 0.3 per cent to touch the intra day high gain of 0.3 per cent and finally closed with a gain of 0.1 per cent. There were technical resistances for Dow and S&P 500 index which however managed to close with moderate gains. However, Dow was able to log its sixth straight gain and register a new intraday high and closing high for 2009. Financials was the leader of the day gaining 1.4 per cent followed by Materials which logged a respectable gain of 0.9 per cent on the back of strength in the commodity prices. Retailers also had a weak session after Macy''s issued downside guidance.The Dow Jones Industrial Average (DJIA) ended with a gain of 44.29 points at 10,291.26. NASDAQ index surged 15.82 points to 2,166.90 and the S&P 500 (SPX) closed higher by 5.50 points at 1,098.51.US light crude oil futures for December delivery closed with a gain of 0.4 per cent at $79.33 per barrel, on the New York Mercantile Exchange.

POSTAED BY:-

SATISH CHANDRA

PGDM III

SACTION A