Sensex may open lower

Headlines for the day

3G auction process will start this week: Raja - Business Line

SEBI bars 16 fro sync trading - DNA Money

Reliance sweetens Lyondell offer - Business Standard

ITC to launch Sunfeast noodles - Business Standard

L&T may list finance units - Business Standard

Events for the day

Major corporate action

United Bank of India IPO opens today

Rural Electrification Corporation Ltd FPO closes today

Aqua Logistics to be list today

Pre-market report

Global signals

The European stocks closed lower on Monday ending five-day winning streak, as drugmakers and food producers put pressure on the market. FTSE 100 closed 0.17% lower at 5349.32.

US markets were closed flat on Monday as healthcare and banks shares rose. Dow Jones closed lower by 0.18%; Nasdaq closed lower by 0.08%.

In today's trade, All the Asian indices are trading in red zone. At the time of writing of this report SGX Nifty trades 23 points lower.

Indian markets

Indian markets are set to open lower on the back of negative global cues. However considering the upcoming budget market may remain volatile throughout the session.

Among the local indices, the Nifty could test the 4900-4950 range on the up side, while on the down side it could find support at 4800 and 4750. While the Sensex is likely to get support at 1600 and may face resistance at 16350.


Indian ADR's

Among the Indian ADRs trading on the US bourses, Tata Motors surged the most with gains of 1.3%, whereas Wipro, HDFC Bank, Patni Computers managed to closed in green. While rest of the stocks closed in red wherein Rediff slides the most and fell by 2.71%.

Commodity cues

In the commodity space, wherein the Crude oil prices recorded marginal gain, with the Nymex light crude oil for March series down by $0.39 to settle at $80.16 a barrel.

In the metals space, Comex Gold for April series declined by $9.00 to settle at $1113.10 to a troy ounce.

In the metals space, Comex Silver for March series down by $0.18 to settle at $16.26 to a troy ounce.

Daily trend of FII/MF investment in equities

On February 22, 2010, FIIs were the net buyers of the Indian Stocks in the tune of Rs293.40 crore (with the gross purchase of Rs2135.80 crore and gross sales of Rs1842.40 crore).

While the Domestic mutual funds, on February 19, 2010, were the net sellers of the stocks in the tune of Rs148.10 crore (with gross purchase of Rs618.50 crore and gross sales of Rs766.60 crore).