Markets set for strong opening

Headlines for the day:

SEBI to set framework for overseas indices

Reliance Brands eyes acquisition

With eye on bank, L&T rejigs arms



Events for the day:

Major corporate action

Sea TV Network IPO opens today
Va Tech Wabag, Cantabil Retail India IPO closes today
Ex date for final dividend of Surya Pharmaceutical
For more events and news, log on to Sharekhan.com

Pre-market report

Indian indices

Bull run is expected to continue in today’s trade on the back of strong overseas markets. The robust US data boosted the sentiments across the globe. The Asian markets are trading higher, which will lift the Indian markets at the start.

The Indian markets are likely to extend the positive momentum, as India remains the hot spot for foreign funds inflows, the main driving force behind recent bull run. The fund flowing activity is likely to continue for coming days.

The markets may see some volatile trade-taking place, as the expiry of derivative contracts for the month of September is due this week.

Daily trend of FII/MF investment in equities

The FIIs have bought Indian shares worth a net of Rs582.70 crore on September 24, 2010, substantially lower than Rs1,505.4 crore on September 23, 2010. The domestic investors have sold the Indian stocks worth a net of Rs278 crore on September 23, 2010, substantially lower than Rs449.90 crore on September 22, 2010.

Global signals

The European stocks reversed losses and staged a late rally on Friday (September 24, 2010), sparked by better-than-feared US macro economic data that helped the market snap a three-day losing run and eke out a gain on the week.

The US markets notched their fourth week of gains on Friday, as investors used a rise in business spending to revive the September rally after three days of losses.

The Asian markets were trading higher on Monday led by strong gains on the Wall Street. SGX Nifty was trading 43 points higher, pointing towards a strong start on the Dalal Street.

Commodity cues

Crude oil prices rose on Friday, marking the strongest weekly gains in two months as a rise in business spending lifted markets, as the crude oil futures for November delivery was up by $1.31, to settle at $76.49 a barrel.