Markets head towards a strong start

Good US jobs data lifted the sentiments across the globe, which may lead Indian markets higher in the opening trade.

Headlines for the day:

Mahindra to spread its wings in aviation space

SBI scales down rights issue proposal

Tata Motors, Leyland to step on the gas for auto LNG

Major corporate action

L&T Finance Holdings to list today

IIP data for June 2011

Results: BF Utilities, BPCL, Coal India, HDIL, Tata Steel, Tech Mahindra



Indian indices

It is seen that if any steps are been taken to address the global situation, the market catches a bit of a bid, but then another news story comes out and then there is a sell off. Volatility is really the word of the week.

Today's opening is expected to be on a positive note on account of better-than-expected US jobs report, which showed the improving trend in the job market. The global picture looks good after strong US data.

Index of industrial production ( IIP) data for June 2011 will be out today. It is expected to come in at 5.5%.

New Listing: L&T Finance Holdings, a subsidiary of engineering and construction company Larsen and Toubro, will be listing its equity shares on exchanges today. The company has fixed issue price at Rs52 a share while the price band was Rs51-59 a share.

Other companies scheduled to report quarterly results today include Century Textiles & Industries, Hindalco Industries, HPCL, Jaiprakash Associates, Jindal Saw, National Aluminium Co., Pipavav Shipyard, Tech Mahindra, Unitech and Videocon Industries.; stocks will be in focus.

Daily trend of FII/MF investment in equities

The FIIs have purchased Indian stocks to the tune of Rs248.90 crore on August 11, 2011. The domestic investors have bought Indian shares worth a net of Rs290.40 crore on August 10, 2011. The data is as per the SEBI website.

Global signals

The European markets rose on Thursday (August 11, 2011) taking lead from the positive US stocks following better-than-forecast weekly job claims.

The US stocks shot up 4% on Thursday as bargain-hungry investors overcame the recent wave of fear that drove selling over the last two weeks.

The Asian markets were trading on a positive note on Friday (August 12, 2011) after the US shares rebounded. SGX Nifty was trading 46.5 points higher.

Commodity cues

Crude oil prices rose for a second straight day on Thursday, gaining as much as 3% as a strong US jobs report trumped early concerns about French banks and fears that Europe's debt crisis will spread.