Sensex to open gap-down

Headlines for the day

HPCL plans Rs20,000 crore refinery

ABG in talks to sell 15% stake in Great Offshore

L&T puts engineering SEZ on hold

Maruti Suzuki hikes prices of most models

Stimulus exits unlikely in the Union Budget

Events for the day

Major corporate action:

Ex-date for interim dividend of Supreme Industries Ltd

Today’s Results: Gail India, HT Media, Jaiprakash Associates, Sesa Goa, Shriram Transport, State Bank of Mysore, Sterelite Technologies & Zee Entertainment Ltd

Jubilant Foodworks IPO opens today with price band of Rs135 to Rs145 per equity shares

Pre-market report

Global signals

European Markets closed lower on Friday, as banking stock fell. FTSE 100 closed 0.78% lower at 5455.

On Friday, US markets closed lower as US Data related to consumer sentiment came below expectation. Nasdaq closed lower by 1.24% to closed at 2288.

Among the Asian indices, all the Asian indices are trading in negative territory in morning trade. At the time of writing of this report, SGX Nifty is trading 47 points lower.

Indian markets

Following the weak global markets, the domestic indices are expected to open lower and may remain volatile.

Among the local indices, the Nifty could test the 5275-5300 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 17300 and may face resistance at 17800.

Indian ADR's

Among Indian ADRs trading on the US bourses, all the ADRs closed lower except Wipto & MTNL.

Commodity cues

In the commodity space, wherein the Crude oil prices recorded declined, with the Nymex light crude oil for February series sheds by $0.69 to settle at $77.31 a barrel.

In the metals space, Comex Gold for February series declines by $12.00 to settle at $1131.00 to a troy ounce.

In the metals space, Comex Silver for March declined by $0.22 to settle at $18.44 to a troy ounce.

Daily trend of FII/MF investment in equities

On January 15, 2010, FIIs were the net sellers of the Indian Stocks in the tune of Rs136.40 crore (with the gross purchase of Rs3602.40 crore and gross sales of Rs3738.80 crore).

While the Domestic mutual funds, on January 14, 2010, were the net buyers of the stocks in the tune of Rs193.30 crore (with gross purchase of Rs1147.90 crore and gross sales of Rs954.60 crore).