Markets expect a firm start

The Indian markets are likely to begin the trade on a positive note taking lead from the supportive global cues. PTC India Financial Services will list today

Headlines for the day:

Ashok Leyland, Nissan pare LCV investments

Essar inks pact to buy Stanlow refinery

US company buys AP Paper for Rs1400 crore



Events for the day:

Major corporate action

PTC India Financial Services to list today
Windsor Machines and Le Waterina Resorts board to consider stock split
Ex-date for 3rd interim dividend of Colgate-Palmolive (India)
For more events and news, log on to Sharekhan.com

Pre-market report

Indian indices

The World Cup cricket mania has gripped India like the rest of the countries. Today a lot of focus will shift to a different screen as India-Pakistan semifinal match, the most awaited clash of the 2011 World Cup, will be held in Mohali. It is going to be an interesting match, with all eyes glued to the television sets and voices all over cheering their favourable team.

Coming back to the markets, buying spree by foreign institutional investors (FIIs) has been driving the Indian markets to touch new highs. The markets may continue its positive trend in today’s trade and resume the session on a strong note tracking supportive global indices. Volatility will be seen on the back of settlement of March derivative contracts due on March 31, 2011.

Equity shares of PTC India Financial Services will be listed on the bourses today. The issue price has been fixed at Rs28 a share, at higher end of price band of Rs26-28 a share.

Daily trend of FII/MF investment in equities

The FIIs have bought Indian stocks worth a net of Rs481.70 crore on March 29, 2011 as compared to the net buy of Rs1,518 crore on March 28, 2011. The domestic investors have bought Indian shares worth a net of Rs229.80 crore on March 28, 2011.

Global signals

The European markets closed flat on Tuesday (March 29, 2011), with Italian lender UBI Banca leading banks lower after a capital hike, but with miners higher as aluminium prices hit their highest since 2008 on Middle East unrest.

The US markets edged higher on Tuesday, shrugging off sovereign debt downgrades of Portgual and Greece and data on US home prices and consumer sentiment that signalled more trouble for the economic recovery.

The Asian markets were trading higher except Shanghai Composite. Japan's Nikkei average made modest gains after the dollar rose against the yen. SGX Nifty was trading 22 points higher.

Commodity cues

Crude oil prices rose on Tuesday in technical, thin trading and lifted by stronger equities and lowered expectations about a quick return of Libya's oil exporting capabilities.