Negative start likely; Infy nos in focus

Today’s start is expected to be in the red as the global markets look unsupportive. Infosys Technologies results will be out today; IT stocks will remain in action.

Headlines for the day:

Fortis to buy 86% in Super Religare Labs

Jaypee to foray into dairy biz

Infosys recasts management for bigger bite of retail, banking & healthcare



Events for the day:

Major corporate action

Weekly and monthly inflation to be out today, to view the update on this, kindly log on to Sharekhan.com at 12 pm.

Chandni Textiles Engineering Industries board to consider stock split

Results: Infosys Technologies

Pre-market report

Indian indices

The global indices are not supportive so it is expected to be a negative opening on the Dalal Street.

The IT bellwether Infosys Technologies today will flag off the fourth quarter earnings season for top companies. The IT major carries over 10% weightage in the Sensex. As such, its results are likely to influence trading sentiments. The company is expected to announce the results before the opening trade. The market players will closely watch the earnings of Infosys and also IT stocks will remain in spotlight.

The key events to watch out for today — the monthly inflation for March 2011 and weekly inflation numbers. The banking stocks will remain in focus.

The market is likely to see high volatility as earnings season kickstarts and inflation readings will be announced.

Daily trend of FII/MF investment in equities

The FIIs turned net sellers to the tune of Rs474.70 crore on April 13, 2011 as against net buy of Rs356.90 crore on April 11, 2011. The domestic investors have bought Indian shares worth a net of Rs190.30 crore on April 11, 2011.

Global signals

The European shares fell on Thursday (April 14, 2011) on worries about higher global inflation as well as a weakening US jobs market, while concerns about Greek debt hit banking stocks.

Stocks that outperform in a weak economy helped the Dow and S&P 500 eke out gains on Thursday as concerns about faltering growth and inflation prompted investors to seek out less volatile names.

The Asian indices were trading mixed on Friday. SGX Nifty was trading 37 points lower.

Commodity cues

The US crude oil futures rose nearly 1% on Thursday, as a weaker dollar offset worries that surging prices would erode demand.