Flat start on the cards; Infosys results eyed

Headlines for the day:

R-Infra raises Rs7,000 crore for Mumbai Metro project

L&T Infra plans Rs700 crore infrastructure bond issue

Honda Motor prepares to exit Hero Honda



Events for the day:

Major corporate action

India's weekly and monthly inflation to be announced today, to view the update on this, kindly log on to Sharekhan.com at 12 pm.
Gyscoal Alloys IPO closes today
Results: Infosys Technologies

Updates on global events

The US continuing claims for the week ended October 2, 2010 stood at 4,399,000 as compared to 4,511,000 seen in the previous week.

The US initial claims for the week ended October 9, 2010 stood at 462,000 as compared to 449,000 seen in the previous week.

Pre-market report

Indian indices

The Sensex and Nifty have gained 248 points (1.39%) and 73 points (1.21%) so far in this week due to the strong foreign institutional investors (FIIs) inflows into the Indian markets.

Today, the markets are likely to start on a flat note following the mixed Asian cues. However, going into today's trade, the markets are expected to remain volatile as weekly and monthly inflation readings are going to be announced. Monthly inflation data, which has gained in prominence since the start of monetary tightening by the central bank, will be very closely watchful.

The IT bellwether Infosys Technologies today will flag off the first quarter earnings season for top companies. The market players may be keenly watching the numbers and guidance of Infosys, which are expected to declare before the session starts. The IT bellwether not only sets the mood of the sector but the entire market sentiments.

Daily trend of FII/MF investment in equities

The FIIs have bought Indian stocks worth a net of Rs3,100.40 crore on October 14, 2010 as against net buy of Rs700.10 crore on October 13, 2010. The domestic investors have sold Indian stocks worth a net of Rs1,102.10 crore on October 13, 2010.

Global signals

The European markets slipped on Thursday (October 14, 2010), with banks pressured by ongoing capital worries and mirroring weak US lenders, after a mortgage industry probe raised fresh concerns about the sector's recovery.

A sharp drop in bank shares dragged US markets lower on Thursday as investors fretted a widening foreclosure crisis could undermine the market's strength over the last five weeks.

The Asian markets were trading mixed after a lackluster day on Wall Street. SGX Nifty was trading 5 points lower, suggesting towards a flat start on the Indian markets.

Commodity cues

Crude oil prices slipped on Thursday as weaker-than-expected jobs data from the US overshadowed a report showing an unexpected weekly decline in the nation's crude inventories, as the crude oil futures for November delivery dipped by $0.39, to settle at $82.69 a barrel.