Strong start likely on +ve global cues

Domestic markets are expected to resume the day on a steady note on the back of strong cues from global peers. The weekly inflation numbers are to be released later today

Headlines for the day:

HDFC, ICICI scrap teaser rates

Munjals, Honda close to rejig agreement

L&T Finance IPO may hit markets by January



Events for the day:

Major corporate action

India’s weekly inflation to be announced today, to view the update on this, kindly log on to Sharekhan.com at 12 pm.
Ex-date for dividend of Oricon Enterprises

Pre-market report

Indian indices

The Indian markets are expected to start today’s session on a steady note as buying has been witnessed across the globe. Market sentiment is likely to improve as US markets are back in gaining momentum and also on easing worries about Europe's debt problems. In today’s session one can expect the bull rally to sustain until some hurdle comes into play.

Markets are expected to remain volatile as weekly inflation readings are going to be announced later today.

The auto and cement shares may remain in limelight as auto sales and cement dispatches numbers will come in today.

Daily trend of FII/MF investment in equities

The FIIs have bought Indian stocks worth a net of Rs1,190.70 crore on December 01, 2010 as against net buy of Rs272.20 crore on November 30, 2010. The domestic investors have sold Indian shares worth a net of Rs305 crore on November 30, 2010.

Global signals

European markets posted their biggest one-day gain in three months on Wednesday, buoyed by better-than-expected US labour data, and with mining shares gaining on strong factory output numbers from China.

In US, Dow and S&P 500 scaled their biggest gains in three months on Wednesday as efforts to resolve the EU's debt crisis helped S&P to cross 1,200 level.

Asian markets were trading higher powered by big gains on Wall Street and easing worries about Europe's debt problems. SGX Nifty was trading 40 points higher, indicating a strong start for Indian markets.

Commodity cues

Crude oil prices surged to a two-week high above $86 a barrel on Wednesday due to positive data from the United States and China. The crude oil futures for January 2011 gained by $3.14, to settle at $86.75 a barrel.