Indian markets head to strong opening

Headlines for the day:

RBI order a base blow for some PSUs

BHEL to invest Rs75-cr to up capacity by 25%

NMDC raises base ore prices by 34-56%

Events for the day:

Major corporate action

Pradip Overseas Ltd to be list today
Ex-date for bonus issue of Cadila Health in the ratio of 1:2
For more Events, log on to Sharekhan.com
Results: Allied Computers International

Pre-market report

Global signals

The European stocks closed 18-month high on Thursday, led by financials, as encouraging economic figures from Asia, Europe and the United States boosted optimism for economic recovery. The European markets will be closed today i.e April 5, 2010.

The US stocks closed higher on Thursday on back of the upbeat economic data.

In today's trade, all the Asian indices are trading in the positive territory, except Kospi. At the time of writing this report, SGX Nifty was trading 33 point higher.

Indian markets

On the back of the positive signals from the Asian markets, the Indian markets are expected to open strong. The market sentiments are positive globally with strong positive bias on the back of improving global sentiments. With the earning season in the insight with no triggers for today, the Indian markets will suite the global markets. With the FIIs pumping in money and the improving sentiments in the global markets, it is expected to pump-up more money in the higher emerging market like India.

Commodity cues

In the commodity space, the crude oil prices gained for the third straight session, with the Nymex light crude oil for the May series advanced by $1.11 per barrel, whereas in the metals space, the Comex Gold for the May series up by $11.80 and the Comex Silver for the May series was up by $0.36 to a troy ounce respectively.

Daily trend of FII/MF investment in equities

On March 31, 2010, FIIs were the net buyers of the Indian stocks to the tune of Rs840.50 crore, whereas the domestic mutual funds, on March 30, 2010, were the net sellers of the stocks to the tune of Rs100.20 crore.