Sensex to open marginally lower

Headlines for the day

RIL to invest $3 billion in new petrochem complex – Business Standard

Bajaj Electrical okays plan to raise funds - Business Line

Gulf Oil Corporation consolidates biz portfolio; exits pharma - Business Line

Suzlon opens wind farm in Australia - Business Standard

RIL mulls entry into low-cost housing - Business Standard

Events for the day

Major corporate action:

Ex-date for the interim dividend of Allcargo Global Logistics Ltd & Central Bank of India & Ex-date for the dividend of Vipul Ltd.

Stock-split of Allcargo Global Logistics Ltd from Rs10/- to Rs2/- & Stock-split of Geekay Finance & Leasing Company Ltd from Rs10/- to Rs1/-.

Reduction of Capital of Midpoint Software & Electro System & Polygenta Technologies Ltd

Pre-market report

Global signals

The European stocks opened the Tuesday with gain but not able to sustains the gain. At the end, FTSE 100 closed 0.07% lower at 5342.

While the US markets halts its northward journey & closed in red zone. Nasdaq 100 shed the 11 points and closed the day at 2193.

In today's trade, the Asian indices showing the mixed trend in the early trading hours. Indices like Shanghai Composite, Nikkei 225 & Hang Seng all trading in red territory. While Kospi & Straits Times trading with gain. And at the time of writing this report, SGX Nifty that opened marginally lower, had not recover its lost and was trading lower by 12 points.

Indian markets

The domestic indices are expected to open marginally lower, remain range bound and volatile owing to the Mixed Asian cues & weak US Markets.

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 Wipro, Tata Motors & Tata Communication managed to closed in green. While rest all of the Indian ADR closed in the Red wherein Rediff slides the most & fell 6.56%.

Commodity cues

In the commodity space, wherein the Crude oil prices recorded marginal loss, with the Nymex light crude oil for December series marginally fell by $0.04 to settle at $79.58 a barrel.

In the metals space, Comex Gold for December series surges $1.90 to settle at $1141.20 to a troy ounce.

Daily trend of FII/MF investment in equities

On November 18, 2009, FIIs were the net buyers of the Indian Stocks in the tune of Rs593.70 crore (with the gross purchase of Rs2379.40 crore and gross sales of Rs1785.60 crore).

While the Domestic mutual funds, on November 17, 2009, were the net Seller of the stocks in the tune of Rs308.40 crore (with gross purchase of Rs458.70 crore and gross sales of Rs767.10 crore).