Markets to open gap-up

Headlines for the day

Bajaj Auto plans 135cc Pulsar - DNA Money

IOC may offload bonds worth Rs100-1500 crore - Business Line

Euro Multivision applies for sops for photo-voltaic project - Business Line

Tata Tele switches on high-speed mobile TV - Business Standard

ABG shipyard exits Great Offshore race - Business Standard

Events for the day

Major corporate action:

Ex-date for interim dividend of Aegis Logistics and Mayur Uniquoters.

Ex-date for dividend of Assam Petro, Ballarpur Industries.

Ex-date for stock split of Flawless Diamonds (I) from Rs10 per share to Re1

Pre-market report

Global signals

On Wednesday, the major European shares ended marginally in the green as FTSE 100 gains mere 0.29% as the rising metal prices helped the miners stock to surge, while better key jobs data from the US boosts sentiments.

Despite positive data on the key Jobs front, the US indices ended mixed as the falling crude prices weigthed on the energy stocks, where Dow closed 0.18% lower, while the Nasdaq and S&P 500 ended the day in the positive zone with marginal gainsof 0.42% and 0.03% respectively.

The major Asian indices are currently trading above yesterdays close with decent gains, except for the China’s Shanghai Composite which dips by 0.21%. At the time of writing this report, SGX traded 27 points higher.

Indian markets

Sensex to open higher with marginal gains as it did in the last few sessions following the Asian cues, however it is expected to remain choppy again.

Among the local indices, the Nifty could test the 5150-5182 range on the up side, while on the down side it could find support at 5100 and 5050. While the Sensex is likely to get support at 16600 and may face resistance at 17394.

Indian ADR's

The Indian ADRs trading on the US bourses closed mixed wherein ICICI Bank, Infosys, HDFC Bank and Satyam closed in the green with gains in the range of 0.13%-8.35%. While the other ADRs closed lower with losses of 0.15%-4.33% each, Rediff fell the most.

Commodity cues

In the commodity space, Crude oil prices falls again after a day of gains, with the Nymex light crude oil for January 2010 series sliding by $2.07 to close at $76.30 a barrel.

In the metals space, the Comex Gold for February 2010 series managed to sustain $1200 level. It continued to surge and rose heavily by $12.80 to settle at $1213 a troy ounce, while Comex Silver for March 2010 series rose marginally by $0.12 to settle at $19.33 a troy ounce.

Daily trend of FII/MF investment in equities

On December 02, 2009, FIIs were the net buyers of the Indian Stocks in the tune of 2294.20 crore (with the gross purchase of Rs4533.00 crore and gross sales of Rs2238.90 crore).

While the Domestic mutual funds mutual funds, on December 01, 2009, were net buyer of the stocks in the tune of Rs159.00 crore (with gross purchase of Rs786.60 crore and gross sales of Rs627.60 crore).