Markets set for a soft start

Headlines for the day:

Cognizant in talks to buy Genpact

Insurers fight again for Air India contract

Sales tax exemption on exports of goods



Events for the day:

Major corporate action

Career Point Infosystems IPO closes today
Ex-date for dividend of Shipping Corporation of India, Ansal Properties & Infrastructure
Ex date for final dividend of DS Kulkarni Developers
For more events and news, log on to Sharekhan.com

Pre-market report

Indian indices

The Indian markets rose in eight out of nine trading sessions till September 17, 2010. In today’s trade, the Indian markets may have a soft start, tracking the weak path led by the Asian markets. However, the foreign institutional investors (FIIs) are pumping money into the Indian markets; this may provide some support to the markets and will not lead to major fall.

Daily trend of FII/MF investment in equities

The FIIs bought shares worth a net of Rs1,143.60 crore on September 17, 2010, substantially lower that Rs2,360.10 crore on September 16, 2010. The domestic investors have sold the Indian stocks worth a net of Rs751.30 crore on September 16, 2010.

Global signals

The European shares fell on Friday (September 17, 2010), as confidence was stung by data showing the US consumer sentiment fell to its lowest level in more than a year, and with banks lower on renewed worries over the sector's financial health.

The Nasdaq rose on Friday after reassuring earnings and an upbeat outlook from Oracle, with the broader market flat as the traditional trading volatility expected by the expiration of options failed to materialise.

The Asian markets drifted lower on Monday (September 20, 2010), with investors cautious ahead of the US Federal Reserve's policy meeting and US housing starts data on Tuesday (September 21, 2010). SGX Nifty was trading 12 point lower, pointing to have a negative start on the Indian markets.

Commodity cues

Crude oil prices fell a fourth straight session on Friday after the US consumer sentiment data showed a surprise drop to the weakest level in more than a year, as the crude oil futures for October delivery down by $0.91, to settle at $73.66 a barrel.