Markets set for a strong opening

Headlines for the day:

Land prices up 50 times in 10 years

3G operators may come under scrutiny of CAG

Vedanta set to source bauxite from Gujarat



Events for the day:

Major corporate action

Indosolar IPO opens today
MVL board to consider stock split
Ex-date for dividend Jindal Steel & Power
For more events and news, log on to Sharekhan.com

Updates on global events

The US Wholesale Inventories for the month ended July 2010 stood at 1.3% as compared to 0.3% seen in the previous month.

Pre-market report

Indian indices

The Indian indices ended the previous week on a higher note, with the Sensex and the Nifty gaining more that 3% on good economic numbers and strong buying by foreign institutional investors (FIIs).

India's industrial output growth nearly doubled to 13.8% in July, dispelling fears about a demand dip and prompting policy planners to hike their economic growth projections to more than 8.5%. This buoyed investor sentiment back home and the Indian markets are expected to carry its previous session’s gains in today’s trade to start the day on a healthy note.

Shares of capital goods firms are likely to gain, after industrial output for July exceeded estimates by a wide margin.

Daily trend of FII/MF investment in equities

The FIIs have been bullish and continued their strong buying activity. The FIIs bought shares worth a net Rs462.70 crore on September 09, 2010, much higher than Rs201.30 crore on September 08, 2010. The domestic investors have sold the Indian stocks worth a net of Rs105.30 crore on September 08, 2010.

Global signals

The European shares edged lower on Friday (September 10, 2010), with Deutsche Bank down on talks it plans to raise capital, while other banks pared losses as concerns over capital requirements eased ahead of the release of the Basel-III rules.

The Dow and S&P 500 closed the week with their seventh gain in eight sessions in a turnaround period for stocks that has seen investors' worst fears about the economy start to dissipate.

The Asian markets climbed in the early trades on Monday (September 13, 2010) tracking Wall Street gains. SGX Nifty was trading 35 points higher, indicating towards a positive start on the Indian indices.

Commodity cues

Crude oil prices have gained in the last week on oil spill at a Canada pipeline that carries crude oil to US refineries, as the crude oil futures for October delivery rose by $2.20, to settle at $76.45 a barrel.