Stocks set to begin on a flat note

Headlines for the day:

GVK PIL arm gets BOT project

Surya Pharma to raise Rs500 crore

Apollo Tyres marches into Europe with local brands

NTPC- Kaniha to import over 13 lakh tonne of coal in 2010-11

Events for the day:

Major corporate action

Ex-date for right issue of Comfort Intech
For more events, log on to Sharekhan.com

Pre-market report

Global signals

The European shares recovered from steep losses to close slightly higher on Tuesday (June 01, 2010), as strong US data helped to ease investors' worries about the global economic recovery, though British Petroleum fell heavily.

The US stocks fell on Tuesday as energy shares slid after the latest failed attempt to halt the oil spill in the Gulf of Mexico and the US government announced a criminal probe into the disaster.

In today's trade, the Asian markets were trading on a mixed note. At the time of writing this report, SGX Nifty was trading 19 points higher.

Indian Indices

Yesterday, the benchmark indices broke its four-day winning streak and ended session in red due to profit booking and heavy sell-off across the globe.

The Asian markets were trading mixed as Wall Street's losses weighed on overall sentiment. Better-than-expected readings on the US economy failed to cheer the main US indices.

The bulls may find some relief this morning as the market gets off to a flat start.

The India's exports rose 36% to $16.9 billion and the imports surged 43% to $27.3 billion in April 2010. Auto numbers have been very encouraging in May.

Commodity cues

In the commodity space, the crude oil prices fell after downbeat overseas manufacturing data raised concerns that global fuel demand will remain low, with the Nymex light crude oil for the July series declined by $1.39 per barrel, whereas in the metals space, the Comex Gold for the July series rose by $12.60 to a troy ounce and the Comex Silver for the July series was up by $0.13 to a troy ounce.

Daily trend of FII/MF investment in equities

On June 01, 2010, the foreign institutional investors (FIIs) were the net buyers of the Indian stocks to the tune of Rs800.60 crore, whereas the domestic mutual funds, on May 31, 2010, were the net sellers of the stocks to the tune of Rs6.10 crore.