See 5570 in Nifty on decline: SMC Global

SMC Global has come out with its report on Indian markets. The research firm says all emerging markets are trading mixed. The Nifty is likely to witness a range of 5570 on declines and 5750 on advances in the coming session.

The market is likely to open flat with a negative bias taking cues from weak global markets. Asian stocks fell, led by Japanese shares, after a central bank survey of sentiment among the country’s largest manufacturers missed estimates. U.S. stocks rose for the week, sending the Standard & Poor’s 500 Index to a record, as data bolstered confidence in the world’s largest economy while concern over Europe’s debt crisis faded. As per provisional figures, foreign institutional investors (FIIs) bought shares worth a net Rs 573.87 crore on 28th March 2013. Domestic institutional investors sold shares worth Rs 346.12 crore on that day.

Nifty technical outlook:

All emerging markets are trading mixed. The coming session is likely to witness a range of 5570 on declines and 5750 on advances.

World market commentary:

In last session all leading American indices like Dow Jones Industrial Average, NASDAQ index and the S&P 500 (SPX) ended in green. Dow was up by 0.36percent and closed at 14579; S&P 500 was gained by 0.41percent at 1569. European indices ended in green. FTSE was up by 0.38percent, DAX gained by 0.08percent & CAC 40 was up by 0.53percent. Today major stock markets in Asia are trading mixed. Shanghai Composite is up by 0.01percent at 2237 and Hang Seng is down by 0.74percent at 22300. Japan’s Nikkei is down by 0.92percent at 12284 and Singapore’s Straits Times up by 0.01percent at 3308. Singapore Nifty future is currently up by 2 point at 5722.

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