Markets set to start flat

Headlines for the day:

NHAI may go bankrupt in three years: Plan panel

Bajaj Auto may issue bonus shares

Tata Steel to raise Rs1,600 crore



Events for the day:

Major corporate action

Weekly inflation to be announced today, to view the update on this, kindly log on to Sharekhan.com at 12 pm.
Nissan Copper board to consider stock split
Results: Axis Bank, LIC Hsg Finance, Castrol and TCS
For more events and news, log on to Sharekhan.com

Updates on global events

The UK ILO unemployment rate for the month ended May 2010 stood at 7.8% as compared to 7.9% seen in the previous month.

The UK Claimant Count Rate for the month ended June 2010 stood at 4.5% as compared to 4.6% seen in the previous month.

The US Retail Sales for the month ended June 2010 stood at (0.5)% as compared to (1.1)% seen in the previous month.

The US Business Inventories for the month ended May 2010 stood at 0.1% as compared to 0.4% seen in the previous month.

Pre-market report

Global signals

The European shares dipped slightly on Wednesday (July 14, 2010), snapping a six-day winning run, with banks sliding on concerns over expected tough new capital and risk rules for the sector.

The US stocks broke a six-day winning streak on Wednesday, with the S&P 500 ending a hair lower after the Federal Reserve suggested additional measures may be needed to combat a weakening economy.

The Asian markets were trading mixed on Thursday after disappointing news on the US economy chilled the market sentiment. SGX Nifty was trading 17.5 points higher, indicating a flat opening on the Indian bourses.

Indian Indices

The start of the earnings season has been disappointing as the results were below market expectations. So, however, markets players may remain cautious to take any position.

Owing to the mixed global cues, the Indian bourses are expected to open flat.

The key event to watch out for today is the weekly inflation numbers as its outcome may have some bearing on the Reserve Bank India’s policy meet, which is scheduled on July 27, 2010

Axis Bank, LIC Housing Finance, Castrol India and Tata Consultancy Services results are slated to be announced today, stocks will be closely eyed.

Commodity cues

Oil prices continue to swing in the mid- to upper-$70s this week as investors reacted the first wave of quarterly corporate results, and mixed economic and supply data, as crude oil futures for August delivery declined $0.11, to settle at $77.04 a barrel.

Daily trend of FII/MF investment in equities

The foreign institutional investors (FIIs) have been the net buyers for the six straight sessions. However, the fund flow in this week after a huge investment of Monday’s (July 12, 2010) session of Rs3,565.60 crore, has been slow down gradually.