Strong start likely on euro zone hopes

Relief about the possibility that there might be a solution to Europe's debt problems is boosting sentiment today. The opening is expected to be on a strong note.

Headlines for the day:

Pipavav warship joint venture put on hold

DB Realty in JV talks with other firms

GMR to sell 30% stake in Singapore arm to Petronas

Gas supply shortage short-circuits power output



Major corporate action

Tijaria Polypipes IPO opens today

Ex-date for final dividend of Munoth Capital Market, Surya Pharmaceutical

Ex-date for bonus issue of Zodiac Clothing Co.

Indian indices

Europe is a day-to-day story and the markets have reacted accordingly tracking developments in that region. Today, the global markets look stable on hope that European officials would find a way to cut Greece's debt and shore up European banks.

The Indian markets are expected to bounce back at the start as euro-zone hope revives optimism. However, there maybe some doubt as to whether or not European officials were preparing to take bold new action to solve the crisis.

Daily trend of FII/MF investment in equities

The FIIs have sold Indian stocks to the tune of Rs1,189.80 crore on September 26, 2011. The domestic investors have bought Indian shares worth a net of Rs8.60 crore on September 23, 2011. The data is as per the SEBI website.

Global signals

The European stock markets rose on Monday (September 26, 2011), as market sentiment was boosted by speculation that the European Central Bank may ease monetary policy in an attempt to support the region's struggling economy.

The US stocks rose on Monday as sentiment swung toward hope that European officials would find a way to cut Greece's debt and shore up European banks.

The Asian stocks were trading with good gains on Tuesday (September 27, 2011) on hopes that euro zone officials will act to corral Greece's debt woes and prevent another full-blown banking crisis. SGX Nifty was trading 84 points higher, suggesting for a strong opening on the Indian bourses.

Commodity cues

US Crude Oil prices rose in choppy trading on Monday, as investors reacted to both hope and skepticism that European governments and banks can deal with the euro zone debt crisis and avert wider financial contagion that could spark a global recession.