Mkts expect a steady start

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

Headlines for the day:

Nokia Siemens Networks bags 3G order from Idea Cellular

Maruti pulls out all stops in market-share fight

Reliance Industries will take more time to ramp up D6 output



Events for the day:

Major corporate action
A2Z Maintenance & Engineering Services to list today
India Infoline board to consider buy-back of equity shares
Aurum Soft Systems board to consider bonus issue & sub-division

Pre-market report

Indian indices

After being in the positive territory, markets witnessed pressure owing to profit booking in the last session.

Despite of mixed cues from Asian markets trading, the Indian markets are likely to have a positive opening as indicated by Singapore Nifty. However, trading may remain subdued following the global suit.

In the recent trading sessions, the share trading volumes on both the stock exchanges have fallen sharply due to lower foreign fund flows and a decline in retail participation, following the SEBI crackdown on price rigging.

Equity shares of A2Z Maintenance & Engineering Services will be listed on the bourses today. The issue price was fixed at Rs400 a share, at lower end of price band of Rs400-410 a share.

Daily trend of FII/MF investment in equities

The FIIs have bought Indian stocks worth a net of Rs224.60 crore on December 22, 2010 as compared to the net sell of Rs32.60 crore on December 21, 2010. The domestic investors have bought Indian shares worth a net of Rs118.60 crore on December 16, 2010.

Global signals

European markets inched higher on Wednesday in holiday-thinned trade, extending a sharp December rally that has brought the key index back to levels not seen since the collapse of investment bank Lehman Brothers two years ago.

In US, the S&P 500 rose on Wednesday to its highest level since the collapse of Lehman Brothers, led by bank stocks that have leapfrogged other sectors in December.

Asian markets were mixed in subdued, holiday-thinned trading. Japanese markets were closed for a public holiday, Emperor's Birthday. SGX Nifty was trading mere 15 point higher, suggesting for a positive start on the Dalal Street.

Commodity cues

Crude oil jumped above $90 a barrel on Wednesday to settle at that level for the first time in 26 months as a third straight weekly drop in US crude inventories spurred pre-holiday buying. The crude oil futures for January 2011 surged by $0.66, to settle at $90.48 a barrel.