Markets may begin on a flat note

The Indian markets are set for a flat start tracking unsupportive Asian cues.

Headlines for the day:

Wockhardt seeks legal go-ahead for Danone deal

Monsoon to weaken now, says Met dept

GMR hopes to land Spain airport projects



Events for the day

Major corporate action

India’s weekly inflation to be announced today, to view the update on this, kindly log on to Sharekhan.com at 12 pm.

Inventure Growth & Securities to list today

Results: Adani Power, Cummins India, Educomp Solutions, Indian Hotels Co., Mundra Port and Special Economic Zone

Indian indices

Investors have simply run out of optimism. One of the big concerns is regarding downgrade in the US and if there is a downgrade what are the implications for emerging markets and risk assets like India.

Today’s start is expected to be on a flat note on the back of mixed Asian cues. The markets may remain in a tight band.

Weekly inflation numbers will be declared today and may lead to a volatile trade.

New Listing: Mumbai based broking firm Inventure Growth and Securities will be listing its equity shares on the exchanges today. The company had managed to get good subscription and the issue price is set at the higher end of price band of Rs100-117 a share.

Daily trend of FII/MF investment in equities

The FIIs have sold Indian stocks to the tune of Rs82.70 crore on August 03, 2011. The domestic investors have sold Indian shares worth a net of Rs18.50 on August 02, 2011. The data is as per the SEBI website.

Global signals

The European stock markets ended sharply lower on Wednesday (August 03, 2011), with the banking sector under pressure after Societe Generale warned that its 2012 earnings target will be hard to achieve after taking writedowns on its Greek bond holdings.

The S&P 500 index rose on Wednesday, snapping a seven-day losing streak, but worries about the economy kept investors jittery and trading volatile.

The Asian markets were trading mixed on Thursday (August 04, 2011). SGX Nifty was trading 14 points lower.

Commodity cues

Crude oil dropped to a five-week low on concern that a faltering economy will curb demand in the US, the world’s leading consumer.