Gap-up start likely; Inflation nos eyed

Headlines for the day:

RIL looks at third shale gas deal in North America

Essar Energy arm to buy Navabharat Power

NTPC's Kudagi ultra mega power project trips again



Events for the day:

Major corporate action

* Monthly inflation to be announced today, to view the update on this, kindly log on to Sharekhan.com at 12 pm.
* Results: South Indian Bank, HDFC
* Ex-date for dividend of Apollo Tyres, Karur Vysya Bank

Updates on global events

* The Consumer Price Index for the month ened June 2010 stood at 0.1% as compared to 0.2% seen in the previous month.
* The Consumer Price Index for the year ended June 2010 stood at 3.2% as compared to 3.4% seen in the previous year.
* The Core Consumer Price Index for the year ended June 2010 stood at 3.2% as compared to 3.4% seen in the previous year.
* The Retail Price Index for the month ened June 2010 stood at 0.2% as compared to 0.4% seen in the previous month.
* The Retail Price Index for the year ended June 2010 stood at 5% as compared to 5.1% seen in the previous year.

Pre-market report

Global signals

The European shares advanced for a sixth straight session and closed at a three-week high on Tuesday (July 13, 2010) after impressive results from some major US companies raised hopes for a strong regional quarterly earnings season.

The US stocks rallied for a sixth straight day on Tuesday after Alcoa's quarterly results heartened investors that had fled to the sidelines on jitters about the sustainability of the economic recovery.

The Asian stock markets rose sharply Wednesday, powered by better-than-expected earnings from Intel Corporation. SGX Nifty was trading 46 points higher, suggesting to a strong start on the Dalal Street.

Indian Indices

After the disappointing Infosys Technologies' results, the market participants were quite cautious in their move. The earnings season would be tricky as there are contradictory signs after the outcome of Infosys Technologies results.

Owing to the strong global cues across the globe, the Indian bourses are set to open higher and expected to extend its previous session's gains.

June inflation numbers will be out today and are expected to rise. This may have some impact on the outcome of the Reserve Bank of India policy meeting later this month. The investors will be keenly watching inflation numbers.

Housing Development Finance Corporation (HDFC) result is slated to be announced today, stock will be closely eyed.

Commodity cues

After losing in the previous session, the crude oil erased its loses and regained in the yesterday's session, as crude oil futures for August delivery rose $2.20, to settle at $77.15 a barrel.

Daily trend of FII/MF investment in equities

The foreign institutional investors (FIIs) have been the net buyer for a fifth straight day, the FIIs fund flow in Indian markets are laying a strong growth for the future.