Positive opening likely; Inflation nos in focus

The global picture looks good today and may result in positive opening for the Indian markets. The inflation numbers for July will be eyed.

Headlines for the day:

CIL to hire about 1500 people by 2012-end
Power Grid plans African safari with large deals
Educomp ties up with Kanchi mutt to set up 100 schools



Major corporate action

India's monthly inflation will be announced today, to view the update on this, kindly log on to Sharekhan.com at 12 pm.
Brooks Laboratories IPO opens today
For more events and news, log on to Sharekhan.com

Indian indices

There seems to be a lack of confidence in the market as to how global economic growth will pan out. Apart from the global concerns, high domestic inflation and fears of an interest rate hike will keep the Indian stock market volatile this week.

Today's opening is likely to be on a firm note on account of positive global markets. The July monthly inflation numbers are scheduled to be released today; this may offer some cue on what the Reserve Bank of India may decide in its next money policy meeting on September 16.

State Bank of India's net profits for the first quarter ended June 30, 2011 came in at Rs 1,584 crore, a decline of 46% as compared to Rs 2,914 crore recorded in same period last year, stock will remain in focus.

Daily trend of FII/MF investment in equities

The FIIs have bought Indian stocks worth a net of Rs93.90 crore on August 12, 2011 as compared to the net buy of Rs248.90 crore on August 11, 2011. The domestic investors have bought Indian shares worth a net of Rs460.20 crore on August 11, 2011. The data is as per the SEBI website.

Global signals

The European markets ended slightly higher on Monday (August 15, 2011), losing steam after last week's late rally, though Nokia jumped on bid hopes after Google offered to buy peer Motorola Mobility.

The US markets rallied on Monday, erasing last week's losses, after a raft of big merger and acquisition announcements spurred buying momentum.

The Asian markets were trading higher on Tuesday (August 16, 2011) tracking gains on the Wall Street. SGX Nifty was trading 22.5 higher, pointing for a positive start on the Indian bourses.

Commodity cues

Crude oil prices rose almost $2 a barrel on Monday, supported by optimism that European leaders will come up with solutions to the region's debt crisis and by broader gains in the global markets.