Positive Asian cues may lift markets at start

The Indian markets are set to begin the new month on a positive note as US reaches debt agreement, lifting Asian indices.

Headlines for the day:

Govt keen to decontrol diesel, LPG prices: FM

New bank licences on the back burner

Pension plans: Irda set to drop 4.5% guaranteed return rule



Major corporate action

Auto sales & Cement dispatches for July 2011
Export & Import data for June 2011
Hatsun Agro Products board to consider sub-division
Results: Glaxosmithkline Consumer Healthcare, Havells India, Indraprastha Gas, Shree Cement, Sun TV Network

Indian indices

The US President Barack Obama on Sunday said that congressional leaders agreed on a deal to raise the nation's borrowing limit and avoid a default. His remarks were enough to lift the Asian indices.

On the first day of August, the Indian markets may resume the trading on a positive note following good Asian cues. Concerns also remain about whether the deal will be sufficient for the United States to avoid a downgrade of its AAA credit rating.

Auto sales and cement dispatches numbers for July 2011 will flow from today alongwith Export and Import data for June 2011.

Earnings have been mixed till now and will continue to remain in focus for further direction.

Daily trend of FII/MF investment in equities

The FIIs have purchased Indian shares to the tune of Rs417.10 crore on July 29, 2011. The domestic investors have bought Indian shares worth a net of Rs158.40 crore on July 28, 2011. The data is as per the SEBI website.

Global signals

The European stock markets fell on Friday on a mix of disappointing US economic data and fears of a possible default by Washington amid the debate over the nation's borrowing limit.

The US markets closed lower on Friday on weak economic data and debt fears.

The Asian markets were trading higher on Monday after US debt deal. SGX Nifty was trading 63.5 points higher, suggesting for a positive start on the Indian bourses.

Commodity cues

Crude oil declined on Friday after a weaker than expected US GDP report signaled that the economy may be growing at a slower than expected pace.