Sensex to open gap-up

Headlines for the day

M&M enters heavy CV segment in partnership with Navistar of US

ACC opens 4th cement plant in Karnataka

Lanco Infra bags Rs2,106-crore orders

Marico arm buys Code 10 from Colgate-Palmolive

Novartis to get leg-up in India with Alcon buy

Events for the day

Major corporate action:

Listing of equity shares of Godrej Properties Ltd

Pre-market report

Global signals

On Monday, the European stocks rose to 15 month high helped by upbeat economic data and buying in banking stock. FTSE 100 closed 1.62% higher at 5500.

The US markets closed closes higher on first trading day of 2010. Nasdaq closed at 2308, 39 points higher.

In today's trade, all the Asian indices are trading higher, except Kospi that trading marginally lower. At the time of writing this report, SGX Nifty trading higher by 53 points

Indian markets

Owing to strong and positive cues coming from the global market, the domestic indices are expected to open higher and may continue its northbound journry.

Among the local indices, the Nifty could test the 5250-5300 range on the up side, while on the down side it could find support at 5180 and 52000. While the Sensex is likely to get support at 17100 and may face resistance at 17600.

Indian ADR's

Indian ADRs trading on the US bourses, all the ADRs closed higher on first trading day of 2010. MRNL surged the most with gains of 7.49% followed by Tata Motors that rose by 6.94%.

Commodity cues

In the commodity space, wherein the Crude oil prices recorded gain, with the Nymex light crude oil for February series rose by $2.15 to settle at $81.51 a barrel.

In the metals space, Comex Gold for February series rise by $23.30 to settle at $1119.50 to a troy ounce.

In the metals space, Comex Silver for March series rise by $0.60 to settle at $17.45 to a troy ounce.

Daily trend of FII/MF investment in equities

On January 04, 2010, FIIs were the net buyers of the Indian Stocks in the tune of Rs834.00 crore (with the gross purchase of Rs2702.50 crore and gross sales of Rs1868.50 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).