Indian indices to extend gains

Headlines for the day:

Green nod sought for projects worth Rs60,000 cr

Air India board to discuss international base plan

Biocon buys out Cuban firm in JV, hopes to break even in 5 yrs

Events for the day:

Major corporate action

Ex-date for dividend of Wyeth
Ex-date for interim dividend of Arss Infrastructure Projects
For more events, log on to Sharekhan.com
Listing of equity shares of Persistent Systems Ltd
Results: GM Breweries

Pre-market report

Global signals

The European markets will resume today after a long weekend, as it was closed on Friday and Monday.

The US stocks rose on Monday, the first trading day on the Wall Street after government data last week showed the economy added the largest number of jobs in three years, boosting hopes the recovery was accelerating.

In today's trade, the Asian markets were trading on a mixed note. At the time of writing this report, SGX Nifty was trading 22 point higher. The Hang Seng is closed today i.e. April 6, 2010.

Indian markets

After the yesterday's rally in the US markets and the positive signals that are coming from the global markets, the Indian stocks are likely to open higher. For Nifty, 5400 and for Sensex, 18000 are the psychological levels. As the investors have pushed the Indian shares and the rupee to multi-month highs expecting a sustained earnings and economic growth, if the FIIs flow continues the market may extend more gains.

Commodity cues

In the commodity space, the crude oil prices posted gains, with the Nymex light crude oil for the May series advanced by $1.75 per barrel, whereas in the metals space, the Comex Gold for the May series rose by $7.80 and the Comex Silver for the May series was up by $0.29 to a troy ounce respectively.

Daily trend of FII/MF investment in equities

On April 05, 2010, FIIs were the net buyers of the Indian stocks to the tune of Rs1484.20 crore, whereas the domestic mutual funds, on March 30, 2010, were the net sellers of the stocks to the tune of Rs100.20 crore.