Sensex may open flat

Headlines for the day

Stimulus drawback likely on higher GDP growth - Business Standard

Steel prices to rise on costlier inputs, demand - Business Line

Bulk drug exports hit by govt's 15% value-addition directive - Business Standard

Govt wants ‘back-up' for Chinese power gear - Business Line

Centre mulls domestic sugar ban for bulk users - Business Standard

Events for the day

Major corporate action:

Hathway Cable & Datacom Ltd IPO opens today

Ex-date for Rights issue of Swaraj Mazda in the ratio of 19:50

Ex-date for interim dividend of Amrutanjan, BHEL, Financial Technologies, Geodesic, GMM Pfaudler, Greaves Cotton, Gujarat Ambuja Export, Havells India, Narathon Nextgen, Oriental carbon, Pennar Industries, Sree Sakthi Paper, Sundaram Financial, Sundram Fastners and Suprajit Engineering.

Pre-market report

Global signals

On Monday, The European stocks ends its three-day losing streak and closed higher. FTSE 100 closed 0.62% higher at 5092.

In US markets, Dow Jones closed below 10000 level mark first time since November as Euro zone debt concern continue. Nasdaq closed 0.70% Lower.

In today's trade, Asian indices showing the mixed trend. Indices like Hange Seng, Kospi Straits Times and Shanghai Composite are trading in green, while indices like Nikkei and Jakarta Composite are trading in red zone.

Indian markets

Indian market may open flat and remain volatile on the back of mixed global cues.

Among the local indices, the Nifty could test the 4800-4850 range on the up side, while on the down side it could find support at 4700 and 4750. While the Sensex is likely to get support at 15600 and may face resistance at 16100.

Indian ADR's

Among the Indian ADRs trading on the US bourses, MTNL surged the most with gains of 2.35%, on other hand Dr. Reddy fell the most with loss of 3.47%.

Commodity cues

In the commodity space, wherein the Crude oil prices recorded marginal loss, with the Nymex light crude oil for March series down by $0.35 to settle at $71.54 a barrel.

In the metals space, Comex Gold for April series rose by $13.20 to settle at $1066.00 to a troy ounce.

In the metals space, Comex Silver for March series rose by $0.27 to settle at $15.10 to a troy ounce.

Daily trend of FII/MF investment in equities

On February 08, 2010, FIIs were the net sellers of the Indian Stocks in the tune of Rs1629.70 crore (with the gross purchase of Rs1517.80 crore and gross sales of Rs3147.50 crore).

While the Domestic mutual funds, on February 04, 2010, were the net sellers of the stocks in the tune of Rs296.20 crore (with gross purchase of Rs561.70 crore and gross sales of Rs857.90 crore).