2 May 2008, 9.00 am
Broad market trend is positive
Market on Wednesday closed at near the support level of Nifty. As the global cues are positive, our market also may join the rally. 5130 is the next support. The resistance at 5230 may be broken today. If so the rally will continue up to 5300.
The global markets are positive. Dow added 189 points to previous close. All Asian markets are strong with US cue. Nikkei gained 247 points and Hangseng up 550.
Nifty May 2008 futures were at 5183.90, at a premium of 18 points as compared to spot closing of 5165.90.
The NSE's futures & options (F&O) segment turnover was Rs 33,950.04 crore, which was lower than Rs 41,819.49 crore on Tuesday, 29 April 2008.
NSE market breadth was negative. 537:660
FIIs(-151 Crores) and DIIs(-38 Crores) were sellers in Capital segment on Wednesday.
Crude oil at NYMEX corrected more. $ 112.52 a barrel.