Markets set for a flat opening

The Indian markets are likely to begin the session on a flat note tracking unsupportive Asian markets; Q3 advance tax numbers of top India firms will be out from today

Headlines for the day:

Petrol price up by Rs2.95 a litre

BSE to suspend trading in 12 firms on non-compliance

JSW Infra to sell 10% to Eton Park for $125 million



Events for the day:

Major corporate action

MOIL to be listed today
Indian Inc's advance tax nos to flow from today
Ex-date for dividend of Neo Corp International, Manaksia
For more events and news, log on to Sharekhan.com

Pre-market report

Indian indices

The Indian markets are in the positive terrain till now in this week. Today's start on the Dalal Street is expected to be on a flat to negative note tracking losses in the Asian markets.

The eagerly awaited Q3 advance tax numbers of top Indian companies will flow from today; this will lead to some direction to the markets. The advance tax figures will provide a picture of Q3 earnings.

State-run manganese producer, MOIL, is set to be listed today. The issue price was fixed at Rs375 a share, at higher end of price band of Rs340-375 a share.

Daily trend of FII/MF investment in equities

The FIIs have sold Indian stocks worth a net of Rs237.60 crore on December 14, 2010 as compared to the net sell of Rs966.20 crore on December 13, 2010. The domestic investors have bought Indian shares worth a net of Rs326 crore on December 13, 2010.

Global signals

The European markets rose in thin volume to gain a seventh straight session on Tuesday (December 14, 2010), as upbeat US retail sales figures reinforced confidence in the pace of economic recovery.

The US stocks closed higher on Tuesday, buoyed by a strong rise in November retail sales as the all-important holiday shopping season nears its peak.

The Asian stock markets were trading lower as investors took profits from earlier gains. SGX Nifty was trading five points lower, suggesting towards a subdued start on the Dalal Street.

Commodity cues

Crude oil prices slipped on Tuesday after the Federal Reserve said the economy is recovering, but not fast enough to bring down unemployment. The crude oil futures for January 2011 declined by $0.33, to settle at $88.28 a barrel.