Sensex lost 50 points yesterday with institutional investors resorting to profit-selling in blue-chip stocks, particularly Reliance Industries, amid weak global trend. A rise in IT, tech and consumer durable sector stocks saved the market from any major fall. Today we expect the market to open subdued on mixed global cues.

US Stocks managed gains on Tuesday at the end of a choppy session as investors mulled the latest corporate deal and profit news on the anniversary of the bear-market bottom. Both Dow Jones Industrial Average & Nasdaq edged higher by 0.1% & 0.4% respectively.  

Asian markets are however trading lower at this point in time with Hang Seng & Nikkei down 0.2% & 0.1% respectively. Indian ADR’s ended largely down with the exception of financial ADRs which ended in positive terrain. Both ICICI Bank & HDFC Bank registered gains of 0.3% & 0.1% respectively. Among Tech ADRs, While Satyam & Infosys were down 5.1% & 0.7% respectively, Wipro ended up 0.3%.  Sterlite was down more than 2% on falling copper prices on the LME. Tata Motors however ended up 2.6%.