Markets set for a strong start on Dhanteras

European Union leaders have made some progress toward a strategy to fight the euro zone's sovereign debt crisis. The start is likely to be on a strong note.

Headlines for the day

JSW to raise steel prices by 2-3%, cuts spot sales

Diesel sales at RIL outlets close to nil

Piramal joins race for Milestone Capital

Tatas mull Group CEO post to ease chairman's workload

IDBI Bank plans to raise $200 million from Swiss market



Events for the day

Results: Gail India, ITC, Sterlite Inds, Titan, Union Bank of India

Indian indices

Today being Dhanteras, everybody is indulging in some form of precious metal shopping as a sign of good luck. All jewellers are expecting some good trading on Dhanteras and hoping that people will come out in big numbers. Gems and Jewellery stocks will remain in focus.

On this auspicious day, the Indian markets are expected to begin on a healthy note as European leaders moved closer to a concrete plan to solve euro zone's debt crisis during a weekend meeting, lifting sentiment in commodities and equities.

Other companies’ results today — Container Corporation of India, Mahindra & Mahindra Financial Services and Strides Arcolab.

Daily trend of FII/MF investment in equities

The FIIs have sold Indian shares worth a net of Rs430.80 crore on October 21, 2011. The domestic investors have sold Indian shares to the tune of Rs186.90 crore on October 20, 2011. The data is as per the SEBI website.

Global Indices

The European stocks rallied on Friday (October 21, 2011), ending a roller-coaster week on a positive note as investors bet that measures to stop contagion from the Greek debt crisis will soon be unveiled at EU summits.

The US stocks surged on Friday, lifted by optimism before this weekend's summit of European leaders and strong earnings from blue-chip stocks.

The Asian stocks rose Monday (October 24, 2011) after euro zone leaders made some progress toward a strategy to tackle the region's debt crisis.

Commodity cues

Crude oil rose on Friday on optimism that summits of European leaders over the next few days could agree a solution to the euro zone's debt crisis.