Gap-up opening likely on positive global cues

The domestic markets are expected to resume the session on a positive note following strong global cues. Rising crude oil prices continue to be a major concern

Headlines for the day:

Essar to seal deal with Royal Dutch Shell for Stanlow refinery

Emami still in race for Henkel India

Educomp Solutions bags Maharashtra govt project for ICT



Events for the day:

Major corporate action

Shilpi Cable Technologies IPO opens today
Ex-date for interim dividend of Engineers India
For more events and news, log on to Sharekhan.com

Pre-market report

Indian indices

The Indian markets are seen trading with high volatility amid tight range. Going into today's trade, signs of progress in resolving Japan's nuclear situation have boosted the markets across the world. The start is expected to be in green taking positive cues from the global markets.

However, unending unrest in the Middle-East is pushing crude oil price higher; this continues to be a major concern.

Daily trend of FII/MF investment in equities

The FIIs have sold Indian stocks worth a net of Rs454.80 crore on March 21, 2011 as compared to the net sell of Rs404.80 crore on March 18, 2011. The domestic investors have sold Indian shares worth a net of Rs19.80 crore on March 18, 2011.

Global signals

Gains in telcos led European shares to a one-week closing high on Monday (March 21, 2011) after Deutsche Telekom sold its T-Mobile USA unit for $39 billion, fuelling expectations of a further pick-up in mergers and acquisitions.

The US markets ended higher on Monday as the biggest proposed merger of the year enticed buyers into the market, though crises in Japan and the Middle East and North Africa assured continued market volatility.

The Asian markets were trading higher, led by a surge in Japanese stocks, though markets remained watchful of fresh developments in Libya. SGX Nifty was trading 17 points higher.

Commodity cues

Crude oil prices rose 1% as spreading unrest in the Middle East intensified concerns about potential threats to the region's oil supply and UN-mandated air strikes kept flow reduced from OPEC-member Libya.