Sensex head towards a strong start

Headlines for the day:

Coal India expects 25% rise in this year's profit

Govt plans to divest 10% in IOC, 5% in ONGC

RBI likely to open second repo window ahead of Coal India issue



Events for the day:

Major corporate action

Sea TV Network, Bedmutha Industries, Ashoka Buildcon to be list today

Prestige Estates Projects IPO closes today

Results: Axis Bank, LIC Housing Finance

For more events and news, log on to Sharekhan.com

Pre-market report

Indian indices

The domestic markets made a smart comeback in the previous session, with the markets gaining in two out of three sessions of this week. The domestic markets are expected to continue its upmove and start the session on a higher note, as the global markets remain upbeat. Giving another hope to the Sensex, as its just 200 points shy of the all-time closing high of 20873 seen on January 8, 2008. The markets are likely to remain buoyant in the near-term driven by strong foreign funds flows.

Infosys Technologies will announce quarterly earnings on Friday (October 15, 2010), which will keep the technology shares in limelight in today’s trade.

The release of September inflation data is postponed to Friday, as government offices in the capital city would be shut for the today’s closing ceremony of the 12-day Commonwealth Games.

There are three listings on the bourses today - Sea TV Network, Bedmutha Industries and Ashoka Buildcon - with an issue price of Rs100, Rs102 and Rs324 respectively.

Daily trend of FII/MF investment in equities

The FIIs have bought Indian stocks worth a net of Rs700.10 crore on October 13, 2010 as against net buy of Rs1,111.10 crore on October 12, 2010. The domestic investors have sold Indian stocks worth a net of Rs336.80 crore on October 12, 2010.

Global signals

The European markets hit a three-week closing high on Wednesday (October 13, 2010), driven by the strong US company results and growing expectations of fresh economic stimulus, with miners topping the risers on hopes of improving raw materials demand.

The US markets hit their highest level in five months on Wednesday, as stronger-than-expected earnings and lingering US dollar weakness increased demand for equities.

The Asian markets were trading higher, lifted by better-than-expected earnings from the US corporate bellwethers. SGX Nifty was trading 24 points higher, pointing to have a positive start on the Dalal Street.

Commodity cues

Crude oil prices rose above $83 a barrel on Wednesday as the dollar slumped amid reinforced expectations of more monetary easing by the US central bank, as the crude oil futures for November delivery rose by $1.64, to settle at $83.01 a barrel.