Sensex to open marginally lower

Headlines for the day

Ranbaxy transfers stake in Chinese JV to HNG Chembio: Economic Times

ONGC, Gail to take 12.5% stake in Chinese gas pipeline: Business Standard

Sterlite Energy to start Jharsuguda's first unit in 3 months: Business Standard

IPO scam: Compensation soon for retail investors: The Hindu Business Line

India, Japan to deepen economic ties: The Hindu Business Line

Events for the day

Major corporate action:

Listing of equity shares of Essar Securities Ltd (Listed only on BSE)

Pre-market report

Global signals

The European stocks continue its northbound journey on Tuesday as European shares at new 15-month closing high. FTSE 100 closed 0.65% higher at 5438.

The US markets closes on flat, as consumer confidence number improved in December but house prices were flat in October after five months of increases. Nasdaq 100 down 3 points to closed at 2288.

In today's trade, apart from Shanghai Composite and Jakarta composite all the other Asian indices trading in negative territory. At the time of writing this report, SGX Nifty trading lower by 6 points.

Indian markets

The domestic indices are expected to open lower and may remain volatile due to the negative global cues.

Among the local indices, the Nifty could test the 5220-5250 range on the up side, while on the down side it could find support at 5150 and 5100. While the Sensex is likely to get support at 17200 and may face resistance at 17494.

Indian ADR's

Among the Indian ADRs trading on the US bourses, among gainers Patni Computer surged the most with gains with 2.19%. On other hand Dr. Reddy fell the most with loss of 3.49%.

Commodity cues

In the commodity space, wherein the Crude oil prices reported marginal losses, with the Nymex light crude oil for February series decline by $0.01 to settle at $78.76 a barrel.

In the metals space, Comex Gold for February series sheds $9.80 to settle at $1098.10 to a troy ounce.

Daily trend of FII/MF investment in equities

On December 29, 2009, FIIs were the net buyers of the Indian Stocks in the tune of Rs811.30 crore (with the gross purchase of Rs1594.70 crore and gross sales of Rs783.40 crore).

While the Domestic mutual funds, on December 24, 2009, were the net buyers of the stocks in the tune of Rs144.50 crore (with gross purchase of Rs713.90 crore and gross sales of Rs569.40 crore).