Sensex may open higher

Headlines for the day

Ministry plans special SAIL arm for overseas buys

L&T plans 6,500 Mw power generation capacity in 4 yrs

Gitanjali opens training centre at Rajiv Gems SEZ

Nalco to get Potangi bauxite mining lease

Novartis gets patent for cancer drug

Events for the day

Major corporate action:

Listing of equity shares of MBL Infrastructure Ltd

Ex-date for dividend of Automotive Axle Ltd

Ex-date for interim dividend of Power Grid Corporation Ltd

Ex-date for re-issue of Forfeited equity shares of Prabhav Industries Ltd

Today’s Results: Dhampur Sugar Mills LtdGeojit BNP Paribas & Exide Industries.

Pre-market report

Global signals

On Friday, the European stocks closes marginally higher. FTSE 100 closed 0.14% higher at 5534.

The US markets closed closes higher on Friday on recovery hopes. Nasdaq closed at 2317, 17 points higher.

In today's trade, all the Asian indices are trading higher. At the time of writing this report, SGX Nifty trading higher by 15 points

Indian markets

Owing to positive cues coming from the global market, the domestic indices are expected to open higher and may remain volatile.

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 5180 and 5200. While the Sensex is likely to get support at 17400 and may face resistance at 17800.

Indian ADR's

Indian ADRs trading on the US bourses, Satyam surged the most with gains of 4.25%, on other hand ICICI Bank fell the most with loss of 2.07%.

Commodity cues

In the commodity space, wherein the Crude oil prices recorded gain, with the Nymex light crude oil for February series rose by $0.59 to settle at $83.25 a barrel.

In the metals space, Comex Gold for February series rise by $5.50 to settle at $1139.20 to a troy ounce.

In the metals space, Comex Silver for March series rise by $0.12 to settle at $18.46 to a troy ounce.

Daily trend of FII/MF investment in equities

On January 08, 2010, FIIs were the net buyers of the Indian Stocks in the tune of Rs302.10 crore (with the gross purchase of Rs2644.80 crore and gross sales of Rs2342.70 crore).

While the Domestic mutual funds, on January 07, 2009, were the net sellers of the stocks in the tune of Rs406.60 crore (with gross purchase of Rs579.90 crore and gross sales of Rs986.60 crore).