Gap- down start likely; RIL nos in focus

The Indian indices are expected to open on a weak note on account of negative Asian cues. Reliance Industries’ results will be out today.

Headlines for the day:

Kingfisher, Jet Airways show interest in BAPL's proposed airport

Ashok Leyland, Nissan set 150,000-unit sales target

Exide Industries eyes 33% market share in inverter battery



Major corporate action

Results: Bank of India, HCL Technologies, NTPC, Oriental Bank of Commerce, Patni Computer Systems, Reliance Industries, Sterlite Industries, Bank of Maharashtra
Ex-date for dividend of Tata Chemicals, EIH
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Indian indices

The trading on the Dalal Street is expected to open on a weak note tracking negative Asian markets, weighed by concerns over stalled negotiations on raising the US debt ceiling. The Indian indices will keenly watch the results of the top-notch companies so as to get some support.

The index heavyweight Reliance Industries Ltd (RIL) carries over 10% weightage in the Sensex. Its results are likely to influence trading sentiments, which is scheduled to be out today. Last week, Cabinet approved BP's $7.2-billion deal to buy stakes in RIL’s exploration blocks; this may lead to some momentum in the RIL’s shares

Other companies scheduled to report quarterly results today include Bank of India, HCL Technologies, NTPC, Oriental Bank of Commerce, Patni Computer Systems, Sterlite Industries, Bank of Maharashtra; stocks will be eyed.

Daily trend of FII/MF investment in equities

The FIIs have sold Indian stocks worth a net of Rs172 crore on July 22, 2011 as compared to the net sell of Rs31.1 crore on July 21, 2011. The domestic investors have bought Indian shares worth a net of Rs206.2 crore on July 21, 2011. The data is as per SEBI website.

Global signals

The European markets showed a mixed reaction on Friday (July 22, 2011) to the European Union's new plan to bailout Greece and to backstop other financially struggling member countries.

In the US, investors poured into tech shares on Friday as promising chipmaker earnings and optimism that a solution was on the horizon for the US debt stalemate triggered a move into growth-oriented shares.

The Asian markets fell on Monday (July 25, 2011). SGX Nifty was trading 8 points lower, indicating for a negative start on the Indian bourses.

Commodity cues

Brent crude oil rose 1% to top $118 on Friday, buoyed by Europe's latest agreement to bailout Greece.