Strong global cues may lift markets at start

Headlines for the day:
RIL, GAIL, Andhra IPPs sign gas swap agreements
GE Healthcare to invest another $50 million in India
FinMin approves 9.5% interest on PF deposits for FY'11
Events for the day:

Major corporate action

PTC India Financial Services IPO closes today
Equity shares of Dhunseri Investments to be listed today
Monotona Securities board to consider bonus issue


Pre-market report

Indian indices
One day up and another day down is what the Indian markets are seen doing this week. Today the scenario across the globe looks healthy, which may lift Indian markets higher at the opening. Investors may go for bargain hunting after recent losses. But this does not suggest that the near-term decline is over, as concerns about Japan's nuclear crisis are still there.

Sentiments improved after the G7 group of rich nations agreed on joint intervention to curb the Japanese currency's rise. The Indian markets are expected to trade on global direction.
The Sensex was down by 24 points (0.13%) and the Nifty up 2 points (0.04%) respectively in this week till now.

Daily trend of FII/MF investment in equities

The FIIs have sold Indian stocks worth a net of Rs124.50 crore on March 17, 2011 as compared to the net buy of Rs219.40 crore on March 16, 2011. The domestic investors have bought Indian shares worth a net of Rs286.70 crore on March 16, 2011.

Global signals

The European markets bounced on Thursday (March 17, 2011) from three-month lows, mainly in technical buying and as hedge funds scooped up beaten-down shares, with chartists saying further short-term upside in equities was likely.

The Wall Street rebounded after three days of declines on Thursday, but the advance could be temporary as concerns about Japan's nuclear crisis persisted.

The Asian markets were trading higher, as the Group of Seven industrialized nations agreed to a coordinated intervention to staunch the yen's recent surge, providing some relief to Japan. Nikkei was trading nearly 2% higher. SGX Nifty was trading 18 points up.

Commodity cues

Crude oil prices jumped, after Thursday's settlement following a vote by the United Nations Security Council authorizing the imposition of a no-fly zone over Libya.