Flat start on the cards

Headlines for the day:

Shriram Group may take over Vishal's retail arm

NHDC's 100MW wind power plant in MP

Gas EGoM likely to okay supply for Lanco, GMR, Sravanthi power units



Events for the day:

Major corporate action

Ajel Info board to consider stock split
Results: United Spirits, Zee Entertainment Enterprises
Ex-date for bonus issue of Nesco
For more events and news, log on to Sharekhan.com

Updates on global events

The NAHB Housing Market Index for the month ended July 2010 stood at 14.

Pre-market report

Global signals

The European shares fell on Monday (July 19, 2010) after gloomy US housing data rekindled worries about the pace of economic recovery, more than offsetting positive mergers and acquisitions sentiment, led by International Power

The US stocks rose on Monday, spurred by optimism ahead of earnings from key technology companies and after Dow Jones component Boeing announced strong orders.

The Asian markets were trading mixed in their early trades. SGX Nifty was trading 7.5 points higher, suggesting to a flat start on the Dalal Street.

Indian Indices

The Indian markets are expected to begin on a flat to positive note, owing to the moderate gains from the US markets and mixed Asian cues.

The markets have been locked in a range and are looking for a clear direction. While the corporate earning is the major event that will guide the markets. Any positive overseas advance will trigger a rally, but the economic numbers across the globe are the concerns that weigh on the market sentiments.

The Nifty is trading in the range of 5350–5420 since the last couple of days. However, it is expected that this range-bound movement will continue for the next few trading sessions.

The earnings declared by the companies after the market hours yesterday, may have some impact in today’s trading session.

United Spirits, Zee Entertainment Enterprises will declare their results today; the stocks will be closely eyed.

Commodity cues

The oil prices rebound on Monday after the three consecutive sessions falls, as crude oil futures for August delivery rose $0.53, to settle at $76.54 a barrel.

Daily trend of FII/MF investment in equities

The foreign institutional investors (FIIs) continued to hedge cash market positions. FIIs were net buyers to the tune of Rs759.60 crore, showing their strong fund flow in the Indian markets. They have been the net buyers for the nineth straight session.