Markets may open on a flat note; RIL eyed

The Indian indices are likely to begin the new week on a flat to negative note as the results of industry mammoth Reliance Industries were below expectations

Headlines for the day:

RBI likely to pull up 7 banks for flouting currency regulations

RIL likely to invest over Rs1.5 lakh crore in next 5 yrs

Like ONGC, OIL may also go for stock split



Events for the day:

Major corporate action

Future Ventures India IPO opens today
Paramount Printpackaging IPO closes today
Results: Maruti Suzuki, Sterlite Inds, M&M Financial Services, Atlas Copco, Sesa Goa
For more events and news, log on to Sharekhan.com

Pre-market report

Indian indices

Today, the markets are likely to see some nervousness when it opens as investors are going to react to the disappointing fourth quarter results from Reliance Industries, which announced its earnings after Thursday's (April 21, 2011) trading hours.

Fresh worries over the 2G scam could add to the nervousness as the Central Bureau of Investigations is likely to file a second chargesheet in the case today.

Auto major Maruti's fourth-quarter numbers are likely to disappoint the market due to slight appreciation in yen, higher raw material cost and high base effect in volumes.

Other companies scheduled to report quarterly results today include Sterlite Industries, M&M Financial Services, Atlas Copco, Indiabulls Power, Sesa Goa; stocks will remain in focus.

Daily trend of FII/MF investment in equities

The FIIs have bought Indian stocks worth a net of Rs462.80 crore on April 21, 2011 as compared to the net buy of Rs2,064 crore on April 20, 2011. The domestic investors have sold Indian shares worth a net of Rs3.60 crore on April 20, 2011.

Global signals

The European markets closed at their highest in more than a week on Thursday as earnings from the likes of AkzoNobel and US tech bellwether Apple helped eclipse economic worries. The markets will be closed on Monday (April 25, 2011) on account of Easter.

The US markets posted their first positive week in three as more healthy earnings news lifted Wall Street on Thursday, though gains were limited with another 180 S&P names due to report next week.

The Asian markets were trading mixed on Monday. Japan's Nikkei edged up, helped by gains in shipping stocks on hopes for robust earnings. Hang Seng index is shut today. SGX Nifty was trading 6 points down, suggesting for a flat start on the Indian bourses.

Commodity cues

Crude oil prices settled modestly higher on Thursday on account of weak dollar that slumped to its lowest level since 2008.