Markets expect flat opening

Headlines for the day:

Tata Motors overtakes Hyundai in June

Axis, Fortis promoters to fund Parkway bid

RCom buys India's largest cable firm



Events for the day:

Major corporate action

Technofab Engineering IPO closes today
Ex-date for dividend of Sesa Goa, Vijaya Bank
Results: Flex Foods
For more events and news, log on to Sharekhan.com

Pre-market report

Global signals

The European shares fell for a third consecutive session to hit a five-week closing low on Thursday (July 1,2010), as worries over the global economic recovery intensified after US jobless, home sales and factory data disappointed.

The US stocks fell more than 1% on Thursday, starting the second half of 2010 on a weak note, as disappointing economic data underscored the view the recovery is slowing.

The Asian markets were trading mixed as investors were cautious before key US jobs numbers due later in the day. SGX Nifty was trading merely 1 points higher.

Indian Indices

The Indian markets are expected to begin the session on a flat note, following the mixed cues from its Asian counterparts. But it is likely to trade lower amid negative cues from the European and US markets.

The number of economic data in these days may have strengthen the sentiments, but the reaction to it is quite muted. The investors were more worried about the global macroeconomic deterioration. It is expected that the selling of the risky assets on rallies to may continue until there is confidence that the global picture is improving.

The foreign institutional investors (FIIs) fund flowing have been slow down these days as they were more cautious and stayed away from the current global scenario.

The auto sales and cement dispatches numbers for the month of June are expected to flow even today. This may keep the auto and cement stocks in focus

Commodity cues

In the commodity space, the crude oil prices was down, with the Nymex light crude oil for the August series declined by $2.68 per barrel. In the metals space, the Comex Gold for the July series dipped by $39.20 to a troy ounce and the Comex Silver for the June series was down by $0.91 to a troy ounce.

Daily trend of FII/MF investment in equities

On June 30, 2010, the foreign institutional investor (FIIs) were the net sellers of the Indian stocks to the tune of Rs176.20 crore, whereas the domestic mutual, on June 30, 2010, were the net sellers of the stocks to the tune of Rs89.30 crore.