Mkts expect a steady start on -ve global cues

Markets are expected to resume the trading on a positive note tracking the supportive cues from global markets. The weekly inflation numbers are to be released later today.

Headlines for the day:

Banks hike interest rates on CDs up to 9.5%

NSN, ZTE bag 3G contracts from Aircel

Tata Motors pitches Winger against Innova, Xylo



Events for the day:

Major corporate action

Weekly inflation to be announced today, to view the update on this, kindly log on to Sharekhan.com at 12 pm.
Ex-date for interim dividend of Om Metals Infraprojects
Ex-date for stock split of ACIL Cotton Industries

Pre-market report

Indian indices

The key benchmark indices are down this week till now, as compared to the last week rally due to multiple worries, which have weighed on the markets.

However, in today's trade, markets are likely to witness a positive start tracing the supportive global cues. The domestic indices may follow its global counterparts for direction.

Weekly inflation readings are going to be announced later today. Owing to this, the markets are expected to remain volatile.

Daily trend of FII/MF investment in equities

The FIIs have sold Indian stocks worth a net of Rs419.60 crore on December 08, 2010 as against net buy of Rs77.00 crore on December 07, 2010. The domestic investors have sold Indian shares worth a net of Rs269 crore on December 03, 2010.

Global signals

European markets hit a 26-month closing high on Wednesday, boosted by banking and insurance shares, as investors bet that concerns about the euro zone debt crisis will slowly abate and financials will perform well.

US markets edged higher on Wednesday as gains in financial and technology stocks offset declines due to recent surge in bond yields.

Asian markets were trading higher except Shanghai Composite taking cues from the overnight Wall Street gains. SGX Nifty was trading 22 points higher, suggesting towards a steady start on the Dalal Street.

Commodity cues

Crude oil prices tumbled on Wednesday following a government report that showed a sharp increase in US fuel inventories. The crude oil futures for January 2011 shed by $0.41, to settle at $88.28 a barrel.