The market is likely to open higher as Friday's rally may spill over in opening trade today. Firm global markets and good Q4 March 2008 results have led both the benchmark indices - BSE Sensex and S&P CNX Nifty settled above key levels of 17,600 and 5,200.
The 30-share BSE Sensex advanced 312.81 points or 1.81% at 17,600.12 while the broader based S&P CNX Nifty garnered 62.3 points or 1.21% at 5,228.20 on 2 May 2008 tracking firm global markets.
The market clocked gains for a fourth straight week in the week ended Friday, 2 May 2008, tracking firm global markets and on the back of good Q4 March 2008 results. Both the benchmark indices - BSE Sensex and S&P CNX Nifty settled above key levels of 17,600 and 5,200. The 30-share BSE Sensex gained 474.14 points or 2.76% to 17,600.12, in the week ended Friday, 2 May 2008. The S&P CNX Nifty rose 116.50 points or 2.27% to 5228.20, in the week.
Asian markets were trading mixed today, 5 May 2008. Straits Times (up 0.64% at 3,256.88) and Shanghai Composite (up 0.66% to 3,717.43), gained.
However, Taiwan's Taiwan Weighted (down 0.84% at 8,888.24) and Hong Kong's Hang Seng (down 0.20% at 26,187.96), slipped.
On Friday, 2 May 2008, Dow Jones Industrial Average gained 48.2 points or 0.4% at 13,058.20 after the latest non-farm payroll data showed 20,000 jobs were lost in April, a far better result than an expected loss of 75,000 jobs. The Nasdaq Composite index fell 3.72 or 0.2%, to 2,476.99. The S&P 500 was up 4.56 points to 1,413.90
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