Markets expect a positive opening

The global cues look supportive today and may lift the Indian markets higher in the opening trade.

Headlines for the day:

IT department demands R2,114-crore tax from Satyam
DLF plans to cut debt by Rs3,000 crore
GVK to acquire Siemens' 14% stake in Bangalore international airport

Major corporate action

Events for the day
SRS IPO opens today
Results: Aqua Logistics, Supreme Holdings
Ex-date for final dividend of Tulip Telecom
Ex-date for dividend of BEML, Federal Bank
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Indian indices

The sentiment still remains fragile and the volatility in the markets will stay for a while. Market participants will continue to see what is happening in the global equities so as to get some direction. Bargain hunting could limit the downside.

The global cues look supportive today and may lift the Indian markets higher in the opening trade.

Daily trend of FII/MF investment in equities

The FIIs have sold Indian stocks worth a net of Rs1,281.10 crore on August 22, 2011. The domestic investors have sold Indian shares worth a net of Rs33 crore on August 17, 2011. The data is as per the SEBI website.

Global signals

The European stock markets ended higher Monday (August 22, 2011) in a rebound from last week's rout, with shares in Italian oil major Eni SpA among the top performers as Libya appeared on the verge of a leadership change.

The US stocks ended slightly higher on Monday after four weeks of losses as investors hesitated to take big risks without a catalyst for buying.

The Asian markets were trading in the green zone on Tuesday (August 23, 2011). SGX Nifty was trading 26.5 points higher.

Commodity cues

The crude oil prices ended higher in volatile trading on Monday as gains on the Wall Street lifted sentiment toward oil.