Markets expect a negative start

Headlines for the day:

SEBI doubles retail limit, tightens IPO norms

Madras HC dismisses Subhiksha's merger proposal

Vedanta to miss deadline for shareholders' nod



Events for the day:

Major corporate action

Results: Jindal Steel & Power, JSW Steel, Voltas, Sterlite Industries
For more events and news, log on to Sharekhan.com

Pre-market report

Indian indices

It was a fairly good start to the week. The second quarter earnings season are now in full swing, and India Inc has not disappointed the markets yet.

Going into today’s trade, the Indian markets are likely to see a negative start as the Asian markets does not seem to be quite supportive. However, overall the market undertone is positive but one needs to be cautious as things might turn a bit volatile.

The companies that are going to announce their quarterly results today are Sterlite Industries, Ultratech Cement, Tech Mahindra, United Phosphorus, MRPL, JSW Steel, Central Bank of India, Marico, Jindal Steel & Power, NTPC, Dish TV India, Bosch, Patni Computer Systems, Voltas; these stocks will be eyed by the investors.

Daily trend of FII/MF investment in equities

The FIIs have purchased Indian shares worth a net of Rs1,379 crore on October 25, 2010 as against net buy of Rs976.40 crore on October 22, 2010. The local investors have sold Indian stocks worth a net of Rs178.60 crore on October 21, 2010.

Global signals

The European shares rose on Monday (October 25, 2010), with miners up as a weak dollar lifted metals prices, while luxury goods group Hermes surged after peer LVMH bought a minority stake in the French handbag maker.

The US stocks rose to a five-and-a-half month high on Monday as a falling dollar, partly driven by expectations of further stimulus by the Federal Reserve, prompted investors to buy riskier assets.

The major Asian markets were trading lower. SGX Nifty was trading 16 points lower, suggesting to have a negative start on the Indian bourses.

Commodity cues

Oil prices edged up in choppy trading on Monday, having retreated from an early spike above $83 a barrel, as the dollar pared losses after being knocked lower by disappointing results from a Group of 20 meeting.