Sensex to open flat

Headlines for the day

* SAIL to set up 12mt steel plant in Chiria - DNA Money
* Reliance Industries plans big push for gas, oil exploration - Business Line
* Hindalco EGM clears plan to raise Rs2900 crore - Business Line
* L&T sells fuel dispenser biz to US firm for Rs 150 crore - Business Standard
* Tata Torrent Power cuts fuel surcharge by 1 paise - Business Standard

Events for the day
Major corporate action:
Ex-date for the interim dividend of Jetking Infotrain Ltd & Ex-date for the dividend of Banco Products India Ltd.

Pre-market report

Global signals

The European stocks opened the Tuesday in red and remain red throughout the day. At the end, FTSE 100 closed 0.68% lower at 5346.

While the US markets continue its northward journey to closed with in green. Nasdaq 100 crossed the 2200 mark and closed the day at 2204.

In today's trade, the major Asian indices showing the mixed trend in the early trading hours. Indices like Straits Times, Nikkei 225 & Hang Seng all trading in red territory. While Kospi & Shanghai Composite trading with marginally gain. And at the time of writing this report, SGX Nifty that opened strong, had lost its mornings gains and was trading lower by 5 points.

Indian markets

The domestic indices are expected to open slightly higher, remain range bound and volatile owing to the Mixed Asian cues. However with the positive signal coming from the US, domestic markets may get strength.

Among the local indices, the Nifty could test the 5100-5150 range on the up side, while on the down side it could find support at 5000 and 4920. While the Sensex is likely to get support at 16600 and may face resistance at 17300.

Indian ADR's

Among the Indian ADRs trading on the US bourses, only Infosys, Wipro & HDBC Bank managed to closed in green. While rest all of the Indian ADR closed in the Red wherein Tata Communications slides the most.

Commodity cues

It was a day of gains in the in the commodity space, wherein the Crude oil prices recorded gains, with the Nymex light crude oil for December series rising by $0.30 to settle at $79.14 a barrel.

In the metals space, Comex Silver for December series slide marginally $0.03 to settle at $18.49 to a troy ounce.

Daily trend of FII/MF investment in equities

On November 17, 2009, FIIs were the net buyers of the Indian Stocks in the tune of Rs679.30 crore (with the gross purchase of Rs2505.90 crore and gross sales of Rs1826.60 crore).

While the Domestic mutual funds, on November 16, 2009, were the net Seller of the stocks in the tune of Rs49.50 crore (with gross purchase of Rs502.90 crore and gross sales of Rs552.10 crore).