Markets may start lower on Europe uncertainty

Heightening concerns over the euro debt crisis may drag the Indian markets in the opening trade. M&B Switchgears will list today

Headlines for the day

Mining Bill to introduce royalty at a concession

RBI rules for new bank licences likely by Nov-end: FinMin

Punj Lloyd's plea for ONGC contract dismissed by Bom HC

Maruti rolls out 200 cars from Manesar unit amid strike

Everonn gets nod to dilute 12% to Varkey



Major corporate action

Release of weekly inflation data

New Listing: M&B Switchgears

Results: Bajaj Auto, Bajaj Holdings, Exide Industries, IDBI Bank, Indiabulls Real Estate

Indian indices

The markets have become sensitive to chatters and rumors out of Europe and to the headline news. This shows how unstable the market is. The global equities look weak today on fresh reports suggesting that Europe remains a long way from resolving its debt woes. The Indian markets may open in the negative zone owing to uncertainty in Europe.

Caution may prevail and investors will look for more details to contain the euro zone sovereign debt crisis. Back home, weekly inflation numbers will be eyed and this may keep the market volatile.

Earnings will also remain in focus. Other companies scheduled to report quarterly earnings today include Dhanlaxmi Bank, Piramal Healthcare, Thermax, Ultratech Cement and Yes Bank.

New Listing: Transformer manufacturer M and B Switchgears is going to list its equity shares on the exchanges today. The company has fixed issue price at higher end of price band of Rs180-168 a share. The company is engaged in manufacturing distribution, power, furnace and special purpose transformers.

Daily trend of FII/MF investment in equities

The FIIs have sold Indian stocks worth a net of Rs249.20 crore on October 19, 2011. The domestic investors have sold Indian shares worth a net of Rs75.10 crore on October 18, 2011. The data is as per the SEBI website.

Global signals

The European shares rose on Wednesday (October 19, 2011), snapping two days of losses, led by bank stocks on hopes the European Union summit on Sunday will come up with a comprehensive plan to resolve the region's debt crisis.

The US stocks fell on Wednesday as traders, after sitting on their hands for most of the day, jumped to sell in a hair-trigger reaction to fresh reports underscoring that Europe remains far from a solution to its debt crisis.

The Asian stocks fell on Thursday (October 20, 2011) as growing investor caution about taking risks ahead of a key European leaders' summit at the weekend weighed on riskier assets across the board and supported safe-haven government bonds. SGX Nifty was trading 44 points lower, suggesting a lower start on the Indian bourses.

Commodity cues

Crude oil slumped more than 2% on Wednesday, with a sell-off driven by concern that European leaders could fail to contain a worsening euro zone debt crisis.