Global cues to lift markets at start

Markets are likely to start on positive note on supportive global cues. JSW Steel to announce open offer for Ispat Industries today, the stocks may remain in action.

Headlines for the day:

Tata makes foray into branded pulses

RIL to form JV with Russia's SIBUR to set up rubber plant

DoT to impose fine on infra companies



Events for the day:

Major corporate action

Kesar Terminals & Infrastructure will list today
Tuni Textile Mills board to consider stock split
Ex-date for final dividend of Centrum Capital, JHS Svendgaard Lab
For more events and news, log on to Sharekhan.com

Pre-market report

Indian indices

It seems that good times are back again for the Indian markets as the Sensex and Nifty regained their crucial levels of 20000 and 6000 respectively in previous session. However, one may have to see how long the indices hold the key levels and move ahead.

Markets are likely to get a gap-up opening and extend its previous session gains tracking the positive path led by the global indices. However, the trading may be subdued ahead of Christmas holidays later this week.

Volumes are likely to drop as the participation from foreign institutional investors has slowed down due to Christmas and year-end vacations.

JSW Steel will announce open offer for Ispat Industries today, the stocks may remain in action.

Daily trend of FII/MF investment in equities

The FIIs have sold Indian stocks worth a net of Rs32.60 crore on December 21, 2010 as compared to the net sell of Rs113.40 crore on December 20, 2010. The domestic investors have bought Indian shares worth a net of Rs118.60 crore on December 16, 2010.

Global signals

European markets hit a fresh 27-month high on Tuesda. Mining shares got a booster due to strong metals prices, while Finnish forestry group UPM-Kymmene rose after saying it was buying a debt-laden rival.

US markets rose on Tuesday as solid earnings and a flurry of merger activity underpinned a steady upward trend that reinforced investor optimism for the coming year.

Asian markets were modestly higher in subdued trading following overnight Wall Street gains. SGX Nifty was trading mere 5 point higher, suggesting for a positive start on the Indian markets.

Commodity cues

Crude oil prices rise for the third straight session on Tuesday, the crude oil futures for January 2011 rose by $0.45, to settle at $89.82 a barrel