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Tuesday, November 29, 2011
Euro zone optimism may lift markets at start
The Indian markets expect a positive start on debt crisis action optimism. Developments in the Europe will continue to remain in focus.
Stock in News:
RIL sends arbitration notice to petroleum ministry
Adani Power to raise capacity to 5,500MW by March
DoT to meet industry to resolve 3G roaming issue
Fitch affirms low-default risk on Union Bank
Events for the day:
Results: MRF, KS Oils
Ex-date for stock split of GFL Financials India
Indian markets
Hopes for more drastic steps to deal with the euro zone debt crisis and a robust start to the US holiday shopping season boosted global stocks. The Indian markets may open on a positive note tracking gains across the globe.
However, investors will wait to see how European policy makers come out with fresh measures to help resolve the region's debt crisis.
Daily trend of FII/MF investment in equities
The FIIs have sold Indian stocks to the tune of Rs755.90 crore on November 28, 2011. The domestic investors purchased Indian shares worth a net of Rs222.30 crore on November 25, 2011. The data is as per the SEBI website.
Global signals
The European shares notched up their biggest one-day gain in a month on Monday (November 28, 2011), led by banks and insurers, on hopes euro zone leaders will unveil fresh measures to help resolve the region's debt crisis, ahead of a summit next week.
The US stock markets rebounded from seven days of losses on Monday, as investors used the latest effort from European leaders to resolve the region's debt crisis as an opportunity to cover short positions.
The Asian shares were trading higher on Tuesday (November 29, 2011). However, investors cautiously wait for European policy makers to outline details of how they will leverage their bailout fund so it can help Italy or Spain.
Commodity Cues
US Crude Oil prices surged on Monday as another bout of optimism over Europe's efforts to contain its debt crisis and a robust start to US holiday sales fueled the strongest risk-asset rally in a month.