Flat opening on the cards

The domestic bourses are likely to open flat on the back of subdued global cues. However, the trade may remain in narrow range

Headlines for the day:

Mahindra to expand pick-up range, hike prices

Tax department directs Satyam to audit accounts

NTPC, PowerGrid on signing spree for new projects



Events for the day:

Major corporate action

Shekhawati Poly-Yarn IPO closes today
Ex-date for dividend of Amtek Auto, Ahmednagar Forgings
Ex-date for stock split of SVC Resources
For more events and news, log on to Sharekhan.com

Pre-market report

Indian indices

Markets expect a flat start taking lead from the subdued global markets in today's session. However, with no triggers in sight, the markets may depend on global peers for direction. Markets may drift lower in a narrow range in absence of volumes due to holiday-thinned trade.

Markets have already started witnessing volatility ahead a December series derivatives expiry, which may persist.

Daily trend of FII/MF investment in equities

The FIIs have bought Indian stocks worth a net of Rs266.30 crore on December 28, 2010 as compared to the net buy of Rs35.60 crore on December 27, 2010. The domestic investors have sold Indian shares worth a net of Rs124.90 crore on December 24, 2010.

Global signals

European shares closed higher in thin holiday trade on Tuesday, bouncing from the previous session's selloff and adding modestly to the December rally.

The Dow and S&P 500 rose in light trading on Tuesday, extending December's rally, as cold weather in the Northeast lifted oil prices and energy shares.

Asian markets were trading flat in the early trade on disappointing US economic data. SGX Nifty was trading 5 points lower, indicating to have a flat opening on the Indian markets.

Commodity cues

Crude oil settled near a 26-month high after a report showed US retailers had their best holiday sales in five years and crude supplies were forecast to extend their biggest monthly decline since December 2006. Crude for February delivery gained 49 cents to settle at $91.49 a barrel.