Markets to get a flat start

Headlines for the day:

Returns on ULIP pension plans set to rise

TRAI signals phase-out of analogue cable TV services by 2013

NTPC to get Rs25,000 crore for capacity addition



Events for the day:

Major corporate action

Genus Power board to consider stock split today
Anuh Pharma board to consider bonus issue today
Results: Power Grid Corporation of India
For more events and news, log on to Sharekhan.com

Updates on global events

The US continuing claims for the week ended July 24, 2010 stood at 4,537,000 as compared to 4,571,000 seen in the previous week.

The US initial claims for the week ended July 31, 2010 stood at 479,000 as compared to 460,000 seen in the previous week.

Pre-market report

Global signals

The European markets edged lower on Thursday (August 05, 2010), slipping from the three-month highs hit earlier in the session, as weekly jobs data from the United States heightened concerns over the economic recovery.

The US markets edged lower on Thursday as an unexpected rise in initial jobless claims and unimpressive July retail sales dimmed optimism ahead of the monthly payrolls report.

The Asian markets fell in early trades, dragged down by renewed worries over the pace of the economic recovery as US jobless claims rose unexpectedly. SGX Nifty was trading 10 points lower, suggesting to have a flat start on the Dalal Street.

Indian Indices

As compared to the previous week, the Indian markets in this week have performed well in its first three trading sessions. However, it took a breather in the previous session. So far, in totality the Sensex gained 305 points and on weekly basis it is expected to close higher.

Going into the today’s session, the markets are expected to have a flat to negative start owing to the weak path led by the global peers. The markets have been locked in a range in recent days and are looking for clear directions. Due to lack of domestic triggers, the Indian markets are likely to follow the global economic data for the direction, while another day of lackluster trading may be witnessed today.

Commodity cues

Oil prices dropped for the second day, after a report showed the number of Americans applying for initial unemployment benefits climbed in the latest week, as the crude oil futures for September delivery declined by $0.46, to settle at $82.01 a barrel.

Daily trend of FII/MF investment in equities

Foreign institutional investors (FIIs) remained net buyers in the equity segment worth Rs741.40 crore on August 05, 2010, substantially higher than Rs677.30 crore on Thursday (August 04, 2010).