Markets may open in green

Headlines for the day:

SBI's OP Bhatt against freeing up of savings rate

iGate open offer for Patni to begin April 8

Andhra HC tells Satyam to pay Rs 350 crore to CBDT



Events for the day:

Major corporate action

Weekly inflation will be out today, to view the update on this, kindly log on to Sharekhan.com at 12 pm.
F&O expiry for March today

Pre-market report

Indian indices

India kept its unbeaten World Cup record against Pakistan intact as they beat the arch rivals in the second semifinal on Wednesday (March 30, 2011). Looking at the markets, Indian indices have performed well in the seven sessions. Improving economic outlook and a revival in foreign inflows are the positive triggers, which may lead markets to rise further. Today’s start is expected to be in the green zone on supportive Asian cues.

Volatility maybe high owing to the March derivatives contracts expiry today. Weekly inflation numbers will also be announced, which may add to the volatility. In later trade, F&O expiry may set the stage for bearish mood in the markets.

Daily trend of FII/MF investment in equities

The FIIs turned to heavy buying worth a net of Rs1,500.40 crore on March 30, 2011 as compared to net buy of Rs481.70 crore on March 29, 2011. The local investors sold worth a net of Rs290.10 crore on March 29, 2011 as against net buy of Rs229.80 crore on March 28, 2011.

Global signals

The European shares hit a three-week closing high on Wednesday after a US labour report revived confidence in a recovery in the world's largest economy.

The US stocks rose on Wednesday with activity dominated by money managers buying recent winners, including energy and small-caps, as the quarter nears its end.

The Asian markets were trading with modest gains barring Nikkei and Shanghai Composite. SGX Nifty was trading up by 12 points.

Commodity cues

Oil prices eased on Wednesday in choppy, thin trading, pressured by record high stockpiles at the Cushing delivery point for US crude even as Libya and Middle East uncertainty supported oil, which remained on track to end the first-quarter up more than 10%.