Mkts to witness pressure at start on global cues

Domestic markets are expected to resume the day on a cautious note following the unsupportive global markets. Banking shares may remain in focus.

Headlines for the day:

ONGC to ink Kazakh deal in February

Volvo buys partner's stake in Indian JV

Toyota mulls small car in India, on Etios platform



Events for the day:

Major corporate action

Ex-date for stock split of Sadbhav Engineering
Ex-date for dividend of Energy Development Company, Ess Dee Aluminium
For more events and news, log on to Sharekhan.com

Pre-market report

Indian indices

Despite a decent start in the previous session, the domestic markets ended on a flat note due to sell-off in banking, realty and FMCG shares.

Markets are likely to witness a cautious start due to unsupportive global cues. The investors may remain cautious, as the markets are likely to move sideways following the global peers.

Banking shares may remain in focus as most of the banks have raised interest rates on term deposits.

Daily trend of FII/MF investment in equities

The FIIs have bought Indian stocks worth a net of Rs542.20 crore on December 06, 2010 as against net buy of Rs463.40 crore on December 03, 2010. The domestic investors have sold Indian shares worth a net of Rs269.10 crore on December 03, 2010.

Global signals

European markets fell on Monday, as euro zone debt worries continued to hit investor sentiment before a key gathering of finance ministers in Brussels.

US markets closed lower, the Dow Jones Industrial Average fell 0.17%, the S&P 500 index shed 0.13%, while the Nasdaq 100 index declined 0.06%.

Asian markets were trading lower following the overnight decline in US markets. SGX Nifty was trading 3 points lower, pointing for a cautious start on the Indian markets.

Commodity cues

Crude Oil prices edged up to a 26-month high on speculation the US may extend stimulus measures. The crude oil futures for January 2011 gained by $0.19, to settle at $89.38 a barrel.