Flat to positive start likely

The Indian markets expect to open the session on a flat to positive note following the positive global cues. The weekly inflation numbers are to be released later today.

Headlines for the day:

Axis buys Enam Securities in Rs2,067-crore deal

Govt mulls changes to foreign direct investment oversight

6-7 firms likely to bid for Power Grid tower infrastructure



Events for the day:

Major corporate action

Gravita India is to be listed today
Ex-date for stock split of MVL
For more events and news, log on to Sharekhan.com

Pre-market report

Indian indices

The Indian indices tumbled this week due to global weakness. The Sensex and Nifty are down by 1.48% and 1.36% respectively.

The global scenario is quiet positive to lead the Indian indices to open on a flat to positive note. The key indices may follow the global peers for further course of trend. The markets sentiments may turn lackluster later on given the anxiety over Ireland's fiscal woes and monetary tightening in China.

Also, the trading may witness some volatility ahead of weekly inflation readings that are scheduled to be announced later today.

Daily trend of FII/MF investment in equities

The FIIs have bought Indian stocks worth a net of Rs526.40 crore on November 16, 2010 as against net sell of Rs683.20 crore on November 15, 2010. The domestic investors have sold Indian shares worth a net of Rs99.30 crore on November 10, 2010.

Global signals

European equities bounced back on Wednesday, with a surge in Actelion on reports of bid interest from Amgen boosting pharmaceuticals, while miners rose after supply worries pushed up metals prices.

US stocks ended little changed on Wednesday with indexes unable to recoup recent losses as banks wilted on worries about Federal Reserve regulation of the sector going forward.

Asian markets were trading higher. The markets recovered from the recent falls as European Union officials seek a way to fix the region's debt crisis. SGX Nifty was trading 6 points higher, pointing to have a flat start on the Indian markets.

Commodity cues

Crude Oil prices slumped to a four-week low on Wednesday as worries persisted that China would raise interest rates to cool down inflation. The crude oil futures for December 2010 shed by $2.31, to settled at $80.44 a barrel.