Morning Bell......The BSE Sensex opened up 180 points on opening trade

Indian Market

The BSE Sensex opened up 180 points on opening trade, after indications eurozone officials would soon approve a long-awaited bailout for Greece boosted Asian markets. FIIs have invested nearly USD 4.5 billion in last 44 days. Buying was seen in realty, capital goods, power, consumer durables and banking stocks.

Global Markets

U.S. stocks closed ~1% higher on Thursday as positive domestic economic data comforted investors regarding Greeks second bailout. Investors confidence pushed the Dow to its highest level since May 2008. Nasdaq is back in dot com boom territory hitting a peak it hasn't seen since December 2000.

European markets were in a jittery mood Thursday due to uncertainty over whether Greece will get vital bailout cash to avoid defaulting next month, but more buoyant U.S. jobs data helped shore up sentiment. It finally ended on a flat to positive note. Britain's FTSE 100 fell 0.1%, DAX in Germany dropped 0.1% and France's CAC 40 added 0.1%.

The Indian ADRs ended on a mixed note. Tata Motors, Tata Communications and MTNL ended in red falling by 1.1%, 1.1% and 2.7% respectively. Infosys and Wipro were up by1.1% and 0.6% respectively. Dr Reddys, rose by 0.5% while ICICI Bank and HDFC Bank rose by 0.4% each.

Today, the Asian markets are trading in the green with Shanghai & Hang Seng trading up by 0.1% & 0.8% respectively. Nikkei & Strait Times are trading in the green by 1.8% & 0.5% respectively, while Kospi & Taiwan are trading up by 1.5% & 0.8% respectively. SGX Nifty is trading up by 40.5 points over Thursdays close.

Currencies

The rupee was little changed early on Friday as dollar demand from importers offset the comfort from improved global risk appetite

Outlook

Today, the Indian Markets could open in the green following positive global cues and than remain range bound during the day. The immediate supports to watch are at 5475 and 5435 levels while the immediate resistances are at 5575 and 5600 levels. Among the sectoral indices, Realty, power & Capital Goods could witness some profit taking after a run up yesterday.

Sources-Moneycontrol, HDFCsec