Sensex to open marginally higher

Headlines for the day

Suryachakra Power to raise funds for expansion - Business Line

Transgene Bio ink pact with Dr Reddys for obesity drug - Business Line

Maruti Suzuki rolls out MPV 'Eeco' - Business Standard

Reliance MediaWorks acquires UK-based iLabs - Business Standard

Megasoft mulls $25 mn buyout in Latam, Europe - Business Standard

Events for the day

Major corporate action:

Ex-date for dividend of Krone Communications Ltd

Today’s Results: Bajaj Hindusthan, IFCI, & Motilal Oswal

Pre-market report

Global signals

On Thursday, the European stocks closed marginally lower, FTSE 100 closed 0.06% lower at 5527.

The US markets that opens weak, recover its losses after initial jobless claim edge up. Dow Jones up by .31% while Nasdaq down marginally by 1 points and closed at 2300.

In today's trade, All the Asian indices trading higher, except Kospi that trading lower by 0.66%. At the time of writing this report SGX Nifty trading higher by 11 points.

Indian markets

The domestic indices are expected to open marginal higher, remain volatile following mixed signals that are coming from the global markets.

Among the local indices, the Nifty could test the 5300-5320 range on the up side, while on the down side it could find support at 5160 and 5200. While the Sensex is likely to get support at 17500 and may face resistance at 17800.

Indian ADR's

Among the Indian ADRs trading on the US bourses, among gainers, Rediff surged the most with gain of 2.50%. On other hand Wipro fell the most with loss of 3.74%..

Commodity cues

In the commodity space, wherein the Crude oil prices recorded marginal decline, with the Nymex light crude oil for February series decline by $0.52 to settle at $82.66 a barrel.

In the metals space, Comex Gold for February series down by $2.90 to settle at $1133.60 to a troy ounce.

In the metals space, Comex Silver for March series rise by $0.18 to settle at $18.35 to a troy ounce.

Daily trend of FII/MF investment in equities

On January 07, 2010, FIIs were the net buyers of the Indian Stocks in the tune of Rs839.10 crore (with the gross purchase of Rs3431.60 crore and gross sales of Rs2592.50 crore).

While the Domestic mutual funds, on January 06, 2010, were the net seller of the stocks in the tune of Rs571.20 crore (with gross purchase of Rs654.40 crore and gross sales of Rs1225.50 crore).