Flat start likely; IIP data in focus

Headlines for the day:

Govt eases rules for bank top jobs

BHEL firms up JV with BEL for solar PV plant

Tatas bag record deal to modernise Air force bases



Events for the day:

Major corporate action

IIP data for March to be out today
Infinite Computer Solutions (India) board to consider buyback of shares
Results: Essar Oil
For more events and news, log on to Sharekhan.com

Pre-market report

Indian indices

The Indian markets are likely to begin the new week on a flat note as the Asian cues look unsupportive. There are not many positive events that could take the market further up in the near term.

Markets are likely to be volatile as the industrial production figure for March will be declared today. The IIP numbers may more or less give direction for the day. FII inflows, which seem to be tapering off and a steaming crude oil prices may add to the volatility

Daily trend of FII/MF investment in equities

The FIIs have bought Indian shares worth a net of Rs383.30 crore on April 08, 2011 as against net buy of Rs716.30 crore on April 07, 2011. The local investors have sold Indian shares worth a net of Rs50 crore on April 07, 2011.

Global signals

The European shares set a five-week closing high on Friday (April 08, 2011), led by miners tracking stronger metal prices and investors positioning themselves for an expected positive start to the US corporate results season next week.

The US stocks fell late on Friday as a spike in oil prices revived worries that inflation would derail the recovery, jolting a market that had been treading water ahead of corporate earnings.

All the major Asian indices were trading on a mixed note on Monday (April 11, 2011). SGX Nifty was trading 19 points lower.

Commodity cues

The oil prices surged higher on Friday following a drop in the US dollar and continued jitters about shipments from the world's major oil suppliers.