Markets may open on a positive note

Headlines for the day:

Sterlite gets Supreme Court reprieve till mid-December

Biocon in $200-million pact with Pfizer

New ULIP norms slow life insurance business



Events for the day:

Major corporate action

Coromandel International board to consider stock split
Results: Cadila Healthcare, HDFC Bank, Bajaj Auto
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Updates on global events

The US industrial production for the month ended September 2010 fell by 0.2% as compared to a rise of 0.2% seen in the previous month.

Pre-market report

Indian indices

The start on the Dalal Street today is expected to be positive tracking gains across the globe. The domestic markets may gear up by the latest batch of earnings. However, the global cues are also supportive, which may provide some momentum to the markets.

Cadila Healthcare, Container Corporation of India, HDFC Bank, Bajaj Auto, Coromandel International, Bajaj Holdings & Investment, Religare Enterprises will declare their results today; the stocks will be closely eyed.

Daily trend of FII/MF investment in equities

The FIIs have bought Indian stocks worth a net of Rs654 crore on October 18, 2010 as against net buy of Rs2,894.20 crore on October 15, 2010. The domestic investors have sold Indian stocks worth a net of Rs1,085 crore on October 15, 2010.

Global signals

The European markets rose to their highest closing level in nearly six months on Monday (October 18, 2010), with banks boosted by upbeat results from US lender Citigroup, while oil majors drew support from a rally in crude prices.

The US markets advanced on Monday as stronger-than-expected profit from Citigroup helped financial shares shake off worries that the foreclosure mess could threaten the stability of the housing market.

The major Asian markets were trading higher except Kospi and Shanghai Composite indices, following the overnight Wall Street gains. SGX Nifty was trading 16.5 points higher, suggesting towards a positive start on the Indian bourses.

Commodity cues

Crude oil prices rose above $83 a barrel on Monday, the biggest percentage gain in two weeks, as a strike in France tightened fuel supplies, as the crude oil futures for November delivery rose by $2.25, to settle at $83.08 a barrel.