Loan scam worries linger, -ve start likely

Indian markets are likely to start the session on a negative note following the global peers. Real estate and banking stocks would still continue to trade in pressure.

Headlines for the day:

HDFC chalks out a major foray into education

GMR to sell InterGen stake for $1.23 billion

ITC may pick up 60% in JV with Nitesh Estates



Events for the day:

Major corporate action

Decision on urea decontrol likely to be announced today
Ex-date for dividend of AGC Networks
For more events and news, log on to Sharekhan.com

Pre-market report

Indian indices

Today, the markets may expect a soft start following the weak path led by the global frontiers. After witnessing a terrible last week as investor's sentiment has been hit by the latest bank loan bribery scandal. This negative news may further have an impact on banking and realty shares.

The market may see some bargain hunting after recent big losses. However, for any recovery to sustain, the market will have to get some form of positive news flow in this week.

The market may trade choppy and remain sideways following the global suit coupled with the GDP data. Investors will be looking out for the GDP data for the quarter ended September 2010. The government is scheduled to release this data on Tuesday (November 30, 2010).

Daily trend of FII/MF investment in equities

The FIIs have sold Indian stocks worth a net of Rs532.20 crore on November 26, 2010 as against net buy of Rs1,775.50 crore on November 25, 2010. The domestic investors have sold Indian shares worth a net of Rs407.80 crore on November 25, 2010.

Global signals

European markets fell on Friday (November 26, 2010) on persistent concerns that Portugal could become the next country in the euro zone to seek financial help, with banking stocks particularly hard hit.

US markets fell on Friday, with a holiday-thinned rank of traders taking their cue from European bourses. The 30-stock blue chip Dow ending almost lower almost 1%

Asian markets were trading down amid caution over tensions on the Korean peninsula and the debt crisis in Europe. SGX Nifty was trading 0.5 points lower, indicating towards a negative start on the Indian markets.

Commodity cues

Crude oil prices fell on Friday amid concern over the Euro zone debt crisis, limiting economic growth and diminishing fuel demand. The crude oil futures for January 2011 declined by $0.12, to settle at $83.76 a barrel.