Markets to open on flat to negative note; monthly inflation focused

Headlines for the day

RIL, IMG launch JV to build professional sports biz

JLR to source 30% of parts from low-cost countries

Orbit, HDIL high on Mumbai realty revival

Events for the day

Major corporate action

Ex-date for interim dividend of Neyveli Lignite Corporation

Ex-date for second interim dividend of Prism Cement

Ex-date for bonus issue of Pidilite Industries and Shree Renuka Sugars in the ratio of 1:1

Ex-date for bonus issue of Well Pack Papers & Containers in the ratio of 3:4

Ex-date for stock split from Rs10 to Re1 of Well Pack Papers & Containers

Pradip Overseas IPO closes today.

IL&FS Transportation Networks IPO closes today.

Monthly inflation to be out today

Tamboli Capital to be list today

Pre-market report

Global signals

On Friday, March 12, 2010 the European shares closed strong as positive retail sales data boosted sentiment, while banking shares gained as US Senate negotiations to overhaul financial regulation collapsed.

The US stocks ended on a flat note on Friday, after the mixed consumer and retail data that kept stocks near break-even.

In today's trade, Asian indices are trading in a mix trend. At the time of writing this report, SGX Nifty was trading 25 points lower.

Indian markets

Owing to the mixed and not so supportive global cues, the domestic markets are likely to open on a flat to negative note. The market is likely to remain lackluster and also expected to trade in range bound, as the index of industrial production (IIP) was not market friendly for the investors. However, the investors will be focused on the monthly inflation scheduled later today, which will set the trend of the markets.

Commodity cues

In the commodity space, the Crude oil prices posted loss, with the Nymex light crude oil for the April series down by $0.87 per barrel, whereas in the metals space, the Comex Gold and Comex Silver for the April and May series was down by $6.50 and $0.11 to a troy ounce respectively.

Daily trend of FII/MF investment in equities

On March 12, 2010, foreign institutional investors (FIIs) were the net buyers of the Indian stocks to the tune of Rs447 crore, whereas the domestic mutual funds, on March 11, 2010, were the net sellers of the stocks to the tune of Rs244.40 crore.