Sensex which surged by 170 points in opening trade on Tuesday driven by rally in the global bourses, failed to sustain its uptrend in the afternoon session on heavy selling by funds and retail investors. Among the sectoral indices, realty was down 2.45%, bank 1.99%, PSU 1.71% and oil & gas 1.57%. Today we expect the market to open firm on strong global cues.
US Stocks rallied on Tuesday, with Dow Jones posting their second straight triple-digit gain, as investors welcomed better-than-expected corporate results, signs of stability in the housing sector and solid auto sales. Both Dow Jones Industrial Average & Nasdaq ended up 1.1% & 0.9% respectively.
Asian markets are also trading higher at this point in time with Hang Seng & Nikkei down 0.6% & 0.3% respectively. Indian ADRs ended mixed with Dr Reddy's Lab being the biggest gainer up by nearly 4.5%. Among Tech ADRs while Satyam & Infosys were up 0.6% & 0.4% respectively, Wipro ended the day with losses of 1.5%. Financials ended mixed with ICICI Bank down 0.4% while HDFC Bank was up 0.6%. Sterlite & Tata Motors however were down 0.4% & 0.3% respectively.
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