Strong global cues may lift markets at start

The global sentiments appear to be good ahead of Jackson Hole meeting and this may lead to a strong opening for the Indian markets.

Headlines for the day:

Tata Power seeks higher rate for Mundra unit

NHAI on fast track, highways to double

Indian banks will need more equity for Basel III



Major corporate action

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

F&O expiry for August

Results: Pantaloon Retail (India), Procter & Gamble Hygiene & Health Care, United Breweries (Holdings)

Ex-date for final dividend of Hero MotoCorp, Ultratech Cement

Indian indices

The global markets continued to see buying ahead of Jackson Hole meeting. Better-than-expected US data and hopes that Bernanke would hint at possible stimulus measures to aid the struggling economy have boosted the sentiments across the globe. Today’s opening is expected to be on a strong note tracking gains across the globe.

The markets are likely to remain volatile on account of F&O expiry for the month of August today alongwith announcement of the weekly inflation numbers.

Daily trend of FII/MF investment in equities

The FIIs have sold Indian stocks worth a net of Rs71.70 crore on August 24, 2011. The domestic investors have bought Indian shares worth a net of Rs119.80 crore on August 23, 2011. The data is as per the SEBI website.

Global signals

The European stock markets ended higher on Wednesday, as a sharp gain in US durable-goods orders and hopes for further stimulus measures from the Federal Reserve more than offset any worries over a downgrade of Japan and another round of weak European data.

The US stocks rallied for a second day on Wednesday as investors bought beaten-down financial shares and unloaded gold, but tech stocks could fall on Thursday after late news about Apple's Steve Jobs stepping down as CEO.

The Asian markets were trading higher on Thursday (August 25, 2011) tracking gains on the Wall Street. SGX Nifty was trading 52 points higher, suggesting for a strong start on the Indian bourses.

Commodity cues

Crude oil prices fell on Wednesday in a choppy trading session.