Markets expect a gap-down opening

The Indian markets are likely to begin on a negative note tracking weak global markets, as worries over the pace of Wall Street weakness. Tata Motors will be keenly watchful.



Headlines for the day:

RBI opens fresh window to ease liquidity woes

Essar arm leads race for Zimbabwe steel company

Tata Global Beverages taps PE firms for stake sale

Events for the day:

Major corporate action

Astra Microwave board to consider sub-division & bonus issue
Results: Bharti Airtel, BPCL, Power Finance Corporation
For more events and news, log on to Sharekhan.com

Pre-market report

Indian indices

It's one-on-one against bulls versus bears so far in this week, with domestic indices running out of momentum to sustain the right track. The decline in Wall Street and the Asian indices trading mixed may lead the Indian indices to open with a negative bias.

Tata Motors beats the street expectation by posting a 100-fold jump in net profit due to a buoyant local market and a surge in sales at UK subsidiary Jaguar Land Rover, which may keep the stock eyed.

The results of Bharti Airtel, Nagarjuna Construction, Power Finance Corporation, DLF and Bharat Petroleum Corporation will be out today, which will keep the stocks in focus.

Daily trend of FII/MF investment in equities

The FIIs have bought Indian stocks worth a net of Rs748.60 crore on November 09, 2010 as against net buy of Rs6,906.90 crore on November 08, 2010. The domestic investors have bought Indian shares worth a net of Rs45.20 crore on November 05, 2010.

Global signals

The European shares closed at their highest level in more than two years on Tuesday (November 09, 2010), boosted by fresh corporate earnings reports and improved hopes that the global economic recovery is sustainable.

The Wall Street fell for a second day on Tuesday as selling accelerated into the close, led by sharp losses in bank and metal stocks.

The Asian markets were trading mixed, despite an overnight decline in US. SGX Nifty was trading 34 points lower, pointing to have a negative start on the Indian markets.

Commodity cues

Crude oil prices fell on Tuesday, pressured by the dollar's rise and Wall Street's slip after inflation concerns had lifted oil to a two-year peak, as the crude oil futures for December declined by $0.39, to settle at $86.72 a barrel.