Sluggish start on cards

The markets are expected to resume the trade on a lower note taking cues from the negative Asian markets.

Headlines for the day:

NMDC, MMTC lock horns over iron ore supply to Japanese firms

Private telcos may join PSUs in broadband rollout

Honda puts bike market on notice with stiff targets



Events for the day:

Major corporate action

GoM to meet on urea price decontrol today
Ex-date for final dividend of Indianivesh
For more events and news, log on to Sharekhan.com

Pre-market report

Indian indices

Indian markets

The recent rally that pushed the markets higher took a pause due to profit booking in the previous session. The Indian markets may expect a negative start following the Asian markets. Absence of positive triggers may also restrict gains.

Daily trend of FII/MF investment in equities

The FIIs have bought Indian stocks worth a net of Rs427.60 crore on January 04, 2011 as compared to the net buy of Rs616.70 crore on January 03, 2011. The domestic investors have sold Indian shares worth a net of Rs89.50 crore on January 03, 2011.

Global signals

European shares hit their highest closing level in nearly a week on Tuesday, with oil majors contributing to the bulk of gains as commodity prices were boosted by strong manufacturing data from around the world.

US stocks fell, with the Standard & Poor's 500 Index retreating from the highest level since September 2008, as a stronger dollar weighed on prices of commodities and shares of the companies that produce them.

The Asian markets were trading lower as investors reigned in the solid New Year momentum that fueled markets the previous day. SGX Nifty was trading 10.5 points lower, suggesting for a lower start on the Indian markets.

Commodity cues

Crude oil prices slid more than 2% on Tuesday, retreating from a 27-month high and dropping below $90 a barrel, as profit-taking struck the commodities complex. Crude for February delivery slipped by $2.17, to settle at $89.38 a barrel.