Markets likely to get a flat start

Headlines for the day:

SEBI wants listing of all mutual fund schemes

Gail-RIL deal on D6 gas allocation falls through

Dabur to rope in strategic investor for retail venture



Events for the day:

Major corporate action

Gujarat Pipavav Port IPO opens today
Prime Focus board to consider stock split today
Indsil Hydro board to consider bonus issue today
For more events and news, log on to Sharekhan.com

Pre-market report

Global signals

The European shares fell to their lowest close in a month on Friday (August 20, 2010), below a key resistance level, as worries about global economic growth weighed on sentiment, with construction stocks among the worst performers.

The US stocks slipped on Friday and the S&P 500 and Dow fell for a second straight week on persistent concerns the recovery has tapered off.

The Asian markets were mixed in their early trades after Wall Street ended mostly lower on Friday on recovery concern. SGX Nifty was trading 10 points higher, indicating towards a flat start on the Dalal Street.

Indian Indices

After ending the last week on a higher note, the Indian indices are expected to have a flat to positive start in today’s session owing to the mixed cues from the global peers. As there are no major triggers in the hindsight the equities may largely depend on the global triggers to show some direction. However, markets are likely to trade volatile ahead in the run-up to the expiry of the August series equity derivatives on Thursday (August 26, 2010)

Commodity cues

The crude oil prices declined to a six-week low on Friday (August 20, 2010) on slow-down of US economic recovery, as the crude oil futures for September delivery dipped by $0.61, to settle at $73.82 a barrel.

Daily trend of FII/MF investment in equities

Foreign funds have bought Indian equities worth a net of Rs2,655.30 crore on August 20, 2010, substantially higher than Rs515.90 crore on August 18, 2010.