Markets expect a strong start; Coal India eyed

The Indian indices are set to open the session on a higher note mirroring the buoyed Asian markets. The listing of Coal India shares will remain in focus

Headlines for the day:

CESC seeks Rs1,000 crore PE infusion

GAIL, Petronet eye stake in Nigerian LNG projects

Bharti's JV firm opens processed food R&D, manufacturing unit



Events for the day:

Major corporate action

Coal India IPO to list today
India's weekly inflation to be announced today, to view the update on this, kindly log on to Sharekhan.com at 12 pm.
Powersoft Global Solutions board to consider bonus issue
Results: Engineers India, Videocon Industries

Pre-market report

Indian indices

It has been witnessed that bulls are in full charge in this Diwali week, so far, the Sensex and Nifty have gained 2.16% and 2.38% respectively.

The domestic markets are expected to have a strong start extending its previous session gains, following the buoyed Asian markets. As the sentiment among the investors turned upbeat, as traders reacted to the Federal Reserve's plan to purchase $600 billion in bonds in its second quantitative easing program.

All eyes will be on the much-awaited Coal India IPO, which is set to list today on the brousers. The issue price of India's largest IPO has been fixed at Rs245 a share, at higher end of price band of Rs225-Rs245. The weekly inflation readings are going to be announced later today, the markets are expected to remain volatile.

The results of Videocon Industries and Engineers 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 Rs928.60 crore on November 03, 2010 as against net buy of Rs5,517.60 crore on November 02, 2010. The domestic investors have bought Indian shares worth a net of Rs338.40 crore on October 29, 2010.

Global signals

The European markets slipped on Wednesday (November 03, 2010), after rising for four consecutive days, on investors' concerns that the US Federal Reserve might inject less fresh stimulus into the economy than previously thought.

The US markets ended a volatile session modestly higher on Wednesday after the Federal Reserve detailed a plan to breathe new life into the struggling economy.

The Asian markets were trading higher, buoyed by the overnight gains on Wall Street after the Federal Reserve announced steps to stimulate the faltering US economy. SGX Nifty was trading 44.5 points higher, suggesting to have a positive start on the Indian markets.

Commodity cues

Crude oil prices rose on Wednesday, closing slightly off a six-month high after the US Federal Reserve met market expectations with a plan to buy US government debt to boost the economy, as the crude oil futures for December gained by $0.94, to settle at $84.69 a barrel.