Asian cues may drag markets at start

Domestic indices are expected to open the session on a negative note on the back of weak Asian markets. The markets may consolidate before posting new gains

Headlines for the day:

Tata Steel eyes more acquisitions

Kingfisher Airlines board approves debt recast package

Cairn seeks govt nod for sale of assets to Vedanta



Events for the day:

Major corporate action

MOIL IPO opens today
Claris Lifesciences IPO closes today
RR Financial board to consider bonus issue
For more events and news, log on to Sharekhan.com

Pre-market report

Indian indices

Indian equities has been hit drastically this week, with the key benchmark indices - Sensex and Nifty, down by 267 points (1.36%) and 90 points (1.52%) respectively.

In today's trade, the negative cues from the Asian markets may drag the domestic markets lower at the start. The new F&O series for the month of December will start from today.

There are no major triggers lined in the hindsight. Markets may witness listless trading and likely to consolidate before posting new gains. However, it would continue to take their cues from overseas.

MOIL, whose initial public offering (IPO) opens for subscription today, seems to be attractively priced considering its strong fundamentals and investors can subscribe to the issue for decent gains in the medium term.

Daily trend of FII/MF investment in equities

The FIIs have bought Indian stocks worth a net of Rs1,775.50 crore on November 25, 2010 as against net sell of Rs1,396.20 crore on November 24, 2010. The domestic investors have sold Indian shares worth a net of Rs453.60 crore on November 24, 2010.

Global signals

European shares ended higher on Thursday (November 25, 2010), with heavyweight mining shares boosted by rising metals prices and bid interest in Capital Shopping Centres lifting the real estate sector.

The markets in US were shut on Thursday.

Asian markets were trading lower. SGX Nifty was trading 13 points lower, suggesting towards a soft start on the Indian markets.

Commodity cues

The crude oil futures for January 2011 on Thursday jumped by $3.21, to settle at $83.86 a barrel.