Mkts to start firm ending 2-day fall

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

Headlines for the day:

Tata Motors misses delivery target of one lakh Nanos in 2010

TCS to set up 1500-crore training centre in Kerala

Merck drops $100m research alliance with Ranbaxy



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.
C Mahendra Exports IPO closes today
GCV Services board to consider stock split
For more events and news, log on to Sharekhan.com

Pre-market report

Indian indices

Indian markets

The new year seems to be a testing time for the Indian markets. After putting up a good show in December, the markets are down for two out of three sessions till now in the first trading week of 2011.

After witnessing pressure for two consecutive days, today the start is likely to be comparatively better on good global cues. The markets may trade positive following the global direction during the day and are likely to erase recent losses.

However, the markets are expected to remain volatile, as weekly inflation readings will be announced.

Daily trend of FII/MF investment in equities

The FIIs have bought Indian stocks worth a net of Rs779.30 crore on January 05, 2011 substantially higher against the net buy of Rs427.60 crore on January 04, 2011. The domestic investors have sold Indian shares worth a net of Rs89.50 crore on January 03, 2011.

Global signals

European markets closed flat on Wednesday as a report showing a large increase in US job creation was countered by a stronger dollar that halted a rally in the mining sector.

US stocks closed higher on Wednesday after fluctuating throughout the day as data showed a surprise jump in private sector jobs and solid growth in the service sector.

Asian markets were trading higher except Shanghai Composite following the overnight Wall Street gains. SGX Nifty was trading 27 points higher, suggesting for a strong start on the Dalal Street.

Commodity cues

Crude oil prices bounced back to above $90 a barrel on Wednesday as unexpectedly big gains in US private sector jobs spurred optimism the economy was recovering at a faster pace. Crude for February delivery gained by $0.92, to settle at $90.30 a barrel.