Europe woes may drag markets at start

Markets are set to open the session on a weak note taking lead from the negative global markets. The monthly auto sales and cement dispatches numbers are to be released today

Headlines for the day:

Siemens plans Rs1,200 crore capex in Gujarat

Core growth hits 7-month high at 7% in October

Tata unveils electric Indica Vista in Bangkok



Events for the day:

Major corporate action

MOIL IPO closes today
Monthly cement production & dispatches figures and monthly auto sales numbers to be out in first week
India's export & import data for the month of October 2010 to be announced today
For more events and news, log on to Sharekhan.com

Pre-market report

Indian indices

Bulls may take a halt after gaining for two consecutive sessions. Being, the first day of new month (December), the Indian markets are expected to kick-off the session on a weak note, tracking the negative global cues. However, the markets may witness a quiet session following the global peers on concerns that Ireland's sovereign debt crisis would spread to other euro zone nations.

There are multiple data's to be released today like HSBC Markit Purchasing Managers' Index for November, monthly auto sales and cement dispatches numbers, which may provide some direction to the markets. This may keep the auto and cement stocks in focus.

Daily trend of FII/MF investment in equities

The FIIs have bought Indian stocks worth a net of Rs272.20 crore on November 30, 2010 as against net sold of Rs671.90 crore on November 29, 2010. The domestic investors have bought Indian shares worth a net of Rs234.70 crore on November 26, 2010.

Global signals

European markets dipped on Tuesday was struggled to halt a sharp three-week sell-off as investors continued to dump banking shares on mounting fears of a domino effect in the euro zone after Ireland's bailout.

US markets fell in a choppy session on Tuesday on news that Portugal's debt could be downgraded reignited selling in a high-volume flurry that may bode ill when markets reopen.

Majority of the Asian markets were trading down on concerns that Ireland's sovereign debt crisis would spread to other euro zone nations. SGX Nifty was trading 19 points lower, suggesting towards a weak start on the Dalal Street.

Commodity cues

Crude oil prices fell on Tuesday as concerns that Europe's debt crisis will widen battered the euro and added to ongoing concerns about China's economic growth. The crude oil futures for January 2011 was down by $1.89, to settle at $84.11 a barrel.