Market may open up

Headlines for the day

North block clears decks for 3G auction by March 31 - Business Standard

Ex-GM Europe boss to steer Tata Motors - Business Standard

NHAI sets new norms for project bidding - Business Line

PVR terminates deal to buy DLF's DT Cinemas - Business Standard

RBI may not hike rates before April despite higher inflation - Business Line

Events for the day

Major corporate action:

Ex-date for interim dividend of TVS Srichakra Ltd

Ex-date for dividend of Thiru Arooran

Texmo Pipes & Products Ltd IPO opens today

Pre-market report

Global signals

The European stocks closed higher on Monday as financial lead the gainers chart. FTSE 100 closed 0.49% higher at 5167.

On Monday, US markets were closed on the occasion of Presidents Day.

In today's trade, all the Asian indices are trading higher. An index of China, Singapore and Hong Kong is closed today. At the time of writing of this report SGX Nifty trades 20 points higher.

Indian markets

Domestic market set to open higher on the back of positive signals that are coming from the global markets. However, inflation remain major concern for markets.

Among the local indices, the Nifty could test the 4750-4800 range on the up side, while on the down side it could find support at 4680 and 4700. While the Sensex is likely to get support at 15700 and may face resistance at 16300.

Indian ADR's

On Monday US markets were closed. on Friday, among the Indian ADRs trading on the US bourses, Satyam surged the most with gains of 0.80%, on other hand MTNL fell the most with loss of 0.95%.

Commodity cues

In the commodity space, wherein the Crude oil prices recorded marginal gain, with the Nymex light crude oil for March series rose by $0.08 to settle at $74.21 a barrel.

In the metals space, Comex Gold for April series down by $4.50 to settle at $1090.20 to a troy ounce.

In the metals space, Comex Silver for March series down by $0.18 to settle at $15.41 to a troy ounce.

Daily trend of FII/MF investment in equities

On February 15, 2010, FIIs were the net buyers of the Indian Stocks in the tune of Rs350.90 crore (with the gross purchase of Rs1808.90 crore and gross sales of Rs1458.00 crore).

While the Domestic mutual funds, on February 11, 2010, were the net buyers of the stocks in the tune of Rs1.50 crore (with gross purchase of Rs480.60 crore and gross sales of Rs479.10 crore).