Northward journey may continue

Headlines for the day

Tata Consultancy wins bid for UK pension project - DNA Money

Unitech to refinance Rs5k debt - DNA Money

Lyondell rejects RIL bid - Business Standard

SAIL to pass on hike in excise to consumers - Business Standard

Atul Auto to extend presence to five more states - Business Standard

Events for the day

Major corporate action

Ex-date for Dividend of Abbott India Ltd and Dwarikesh Sugar Industries Ltd.

Ex-date for Interim dividend of Sundaram Brake Linings Ltd.

Ex-date for Rights Issue of IBN18 Broadcast Ltd.

ARSS Infrastructure to be list today

Pre-market report

Global signals

The European stocks closed higher on Tuesday, with HSBC stock gains and miners supported by firm metals prices.

US stocks closed marginally higher on Tuesday, as mergers and acquisitions lifted selected sectors but gains shed later on the day.

In today's trade, all the Asian indices are trading in green. At the time of writing of this report SGX Nifty trades 1.50 points higher.

Indian markets

Domestic markets may open higher as positive signals coming from the global markets. As Nifty closed above 5000 level in yesterday’s session, one can expect that it may go higher in coming days.

Commodity cues

In the commodity space, wherein the Crude oil prices recorded marginal loss for the second consecutive day, with the Nymex light crude oil for April series down by $0.03 per barrel.

In the metals space, Comex Gold for April series rose $19.00 per troy ounce and Comex Silver for May series rises by $0.59 per troy ounce.

Daily trend of FII/MF investment in equities

On March 03, 2010, FIIs were the net buyers of the Indian Stocks in the tune of Rs1094.40, whereas the Domestic mutual funds, on February 26, 2010, were the net sellers of the stocks in the tune of Rs387.40 crore.