Equities head towards a positive star

The Indian markets are expected to open the session on a higher note on the back of positive cues from the Asian markets.

Headlines for the day:

Reliance Power secures $5-bn line of credit from US Ex-Im Bank

NTPC to add 13000MW of power capacity by 2012

RIL firm may lose Kakinada-Haldia gas line project



Events for the day:

Major corporate action

Results: Jain Irrigation Systems, Infrastructure Development Finance Company, Aban Offshore, Jindal Saw
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Pre-market report

Indian indices

The Indian markets have rallied nearly 1000 points in the last week, with Sensex scaled the new all time high of 21000 helped by the announcement of quantitative earnings around two by the US Fed and strong foreign institutional investors (FIIs) inflows.

The domestic markets are expected to have a positive start extending its previous session gains, following the positive Asian markets.

The Sensex is almost 202 points, a percentage point away from the all-time high of 21,206.77 it touched on January 8, 2008. The market is likely to take cues from some important quarterly numbers and economic data in this week. The outcome of US President Barak Obama's visit to India could also provide some direction to the market.

Daily trend of FII/MF investment in equities

The FIIs have bought Indian stocks worth a net of Rs1,297.10 crore on November 04, 2010 as against net buy of Rs928.60 crore on November 02, 2010. The domestic investors have sold Indian shares worth a net of Rs397.40 crore on November 04, 2010.

Global signals

The European markets hit their highest close in more than six months on Friday (November 05, 2010) as better than expected US jobs data boosted hopes that the world's biggest economy is recovering, with miners among the best performers.

The US markets rose for the fifth straight week as investors took heart from Republican gains in the elections and on news that more cheap money from the Federal Reserve was on the way.

The Asian markets were trading mixed, with buying in some markets supported by better-than-expected US jobs data on Friday. SGX Nifty was trading 27.5 points higher, suggesting to have a positive start on the Indian markets.

Commodity cues

US gas prices were all but flat over the past two weeks, but rising crude oil prices are likely to result in an increase in fuel costs soon, as the crude oil futures for December gained by $0.42, to settle at $86.85 a barrel.