Markets to shine on first trading session of 2011

The Indian markets are set to welcome the year 2011 on a bright note tracking positive Asian cues. Monthly cement dispatches and auto sales numbers to be out from today

Headlines for the day

Tata Steel, Nippon to ink Rs2,400 crore JV by Jan-end

Government likely to raise tax collection targets

PMEAC raises inflation forecast to 6%



Events for the day

Ex-date for interim dividend of Oil India
Monthly cement dispatches, auto sales numbers to be out from today
For more events and news, log on to Sharekhan.com

Indian indices

The Indian markets are set to welcome the year 2011 with hopes to attain high levels, given economy keeps on roaring, foreign investors keep on pouring money and scamsters are kept at bay. The first trading session of 2011 on the Dalal Street is expected to begin on a bright note tracking positive Asian cues.

The monthly cement dispatches figures and auto sales numbers will be out from today; this will keep the cement and auto companies’ shares in focus. India's export and import data for the month of November 2010 will also be announced today.

Global indices

European shares ended lower on Friday (December 31, 2010) in thin holiday trade, posting the biggest weekly fall since July as the December rally petered out, although they were still up 7.3 percent on the year.

US stocks closed mixed Friday in a quiet final session of 2010 as investors looked toward the new year in hopes of building on Wall Street's gain.

The Asian markets are trading in the positive terrain. China and Japan markets are shut today. SGX Nifty was trading 11 points higher, indicating a positive start on the Indian bourses.

Daily trend of FII/MF investment in equities

The FIIs have purchased Indian stocks worth a net of Rs2,352.70 crore on December 31, 2010 as against net buy of Rs605 crore on December 30, 2010. The domestic investors have sold Indian shares worth a net of Rs233.60 crore on December 28, 2010.

Commodity cues

Oil prices hit a 26-month high over $92 a barrel on Friday, closing the year up 15% on expectations that the economic recovery will drive demand growth next year and send prices into triple digits.