Sensex may open flat

Headlines for the day

United Spirits mulls bond issue to refinance Rs3,000-crore debt

ONGC exits Trinidad and Tobago block

Pfizer to source 40 off-patent cancer care drugs from Strides

BHEL bags order for solar plant in state

Nalco eyes Rs25,000 crore by 2020

Events for the day

Major corporate action:

Ex-date for Amalgamation of Titagarh Steel Ltd

Weekly Inflation Numbers

Pre-market report

Global signals

On Wednesday European Markets closed flat. FTSE 100 closed 0.14% higher at 5530.

The US markets closes flat on Wednesday after Federal Reserve Official said that they were steel worried about labor market weakness. Nasdaq 100 declined 8 points and closed the day at 2301.

Among the Asian indices, all the Asian indices are trading weak except the Shanghai Composite & Nikkei that rises marginally. At the time of writing of this report, SGX Nifty is trading 1 points higher.

Indian markets

The domestic indices are expected to open flat, remain range-bound volatile, owing to weak global markets.

Among the local indices, the Nifty could test the 5300-5325 range on the up side, while on the down side it could find support at 5250 and 5200. While the Sensex is likely to get support at 17600 and may face resistance at 17850.

Indian ADR's

Among the Indian ADRs trading on the US bourses, Satyam leads the chart of gainers with gain of 3.98%. On other hand ICICI Bank was the worst performer with loss of 1.58%.

Commodity cues

In the commodity space, wherein the Crude oil prices recorded gain, with the Nymex light crude oil for February series rose by $1.05 to settle at $82.82 a barrel.

In the metals space, Comex Gold for February series rise by $18.30 to settle at $1137.00 to a troy ounce.

In the metals space, Comex Silver for March series rise by $0.38 to settle at $18.18 to a troy ounce.

Daily trend of FII/MF investment in equities

On January 06, 2010, FIIs were the net buyers of the Indian Stocks in the tune of Rs1061.90 crore (with the gross purchase of Rs3338.30 crore and gross sales of Rs2276.30 crore).

While the Domestic mutual funds, on January 05, 2010, were the net buyers of the stocks in the tune of Rs43.40 crore (with gross purchase of Rs1030.70 crore and gross sales of Rs987.30 crore).