Sensex may open flat

Headlines for the day

Costlier Vegetables, pulses raise inflation to 17.5% - Business Line

JSW Steel's production doubles in November - Businesss Line

Emami may join race to acquire UK's Simple - Business Standard

Godrej Properties to launch IPO on December 9 - Business Standard

Essar Steel approaches govt to denotify steel SEZ at Hazira - Business Standard

Events for the day

Major corporate action:

Listing of equity shares of Reliance Media World Ltd

Pre-market report

Global signals

The European stocks opened the Wednesday with gains but at the end erased its gains and end the day in read zone with mining stock leading the downward journey. At the end, FTSE 100 closed 0.27% lower at 5313.·

The US markets closed in red zone as ISM services Data came below market expectation. Nasdaq 100 shed the 12 points and closed the day at 2173.

In today's trade, the Asian indices showing the mixed trend in the early trading hours. Indices like Straits Times & Hang Seng trading in red territory. While Jakarta Composite, Nikkei & Shanghai Composite trading with gains. And at the time of writing this report, SGX Nifty that opened weak with losses of 40 points, however it has recovered all the losses and is trading in the positive with the gain of 3 points.

Indian markets

The domestic indices are expected to open flat, remain volatile owing to the Mixed Asian cues & weak US Markets.

Among the local indices, the Nifty could test the 5182-5200 range on the up side, while on the down side it could find support at 5100 and 5150. While the Sensex is likely to get support at 17100 and may face resistance at 17300.

Indian ADR's

Among the Indian ADRs trading on the US bourses, only Dr. Reddy & Patni Computer managed to closed in green. While rest all of the Indian ADR closed in the Red wherein Rediff slides the most & fell 10.01%.

Commodity cues

In the commodity space, wherein the Crude oil prices recorded gain, with the Nymex light crude oil for January series rises by $0.30 to settle at $76.46 a barrel.

In the metals space, Comex Gold for February series surges $5.20 to settle at $1218.30 to a troy ounce.

Daily trend of FII/MF investment in equities

On December 03, 2009, FIIs were the net buyers of the Indian Stocks in the tune of Rs1512.10 crore (with the gross purchase of Rs3914.90 crore and gross sales of Rs2402.80 crore).

While the Domestic mutual funds, on December 02, 2009, were the net Buyer of the stocks in the tune of Rs31.50 crore (with gross purchase of Rs1013.60 crore and gross sales of Rs982.00 crore).