Flat opening likely on cards

Headlines for the day:

Adani buys Aussie coal assets in $2.7 billion deal

Strides gets UK health regulatory nod for Brazil facility

Godrej to invest Rs300 crore in chemical biz



Events for the day:

Major corporate action

Midfield Industries will be listed today
Orissa Minerals Development Company will be listed today
Results: IDFC, Mundra Port And Special Economic Zone
For more events and news, log on to Sharekhan.com

Updates on global events

The US Factory Orders for the month ended June 2010 came in at (1.2%)

The US Pending Home Sales (MoM & (YoY) for the month ended June 2010 came in at (2.6%) and (20.1%) respectively.

Pre-market report

Global signals

The European shares ended flat on Tuesday (August 03, 2010) as strong corporate results from the likes of Deutsche Post offset some worries about the economic recovery fuelled by disappointing US data.

The US stocks slipped on Tuesday as Dow component Procter & Gamble Company's lackluster results, coupled with weaker-than-estimated data on consumer spending and housing, prompted investors to exercise caution a day after the market's 2% rally.

The Asian markets were lower in their early trade following the overnight Wall Street fall. SGX Nifty was trading 5 points higher, indicating towards a flat start on the Dalal Street.

Indian Indices

The Indian markets kicked-off the month of August with a stellar come back as compared to previous sessions. Today the domestic markets are expected to have a flat opening owing to the mixed Asian cues and overnight fall on the Wall Street. It is also expected that the Indian markets may trade range-bound as it was witnessed in the yesterday’s session and may look for some clear directions to get some momentum. The good news is that the Nifty is trading above the 5400 levels, which may keep the sentiments boosting among the market players.

There are new listings on the bourses — Midfield Industries and Orissa Minerals Development Company, which will list on the Bombay Stock Exchange

The companies like Infrastructure Development Finance Company and Mundra Port & Special Economic Zone will declare their results today; stocks will be eyed.

Commodity cues

Crude oil futures continued to gain strength, rising above $82 a barrel for the first time since May, as the crude oil futures for September delivery rose by $1.21, to settle at $82.55 a barrel.

Daily trend of FII/MF investment in equities

Foreign funds have bought Indian equities worth a net of Rs864.40 crore on August 03, 2010, substantially lower than Rs1,040.20 crore on Monday (August 02, 2010).