Markets may open in green as Italy's PM plans exit

The Indian markets are likely to see a positive start following news that Italy's prime minister would resign, paving the way for austerity reforms to ease the euro zone's debt crisis.

Headlines for the day:

Mukesh Ambani buys 38.5% in Extramarks Education

RINL, BHEL to set up Rs 2,000 cr seamless tube mill

Tribunal to hear tomorrow DLF appeal against CCI order

NTPC to invite long-term coal import bids in 3 mths

TDSAT directs Qualcomm, DoT to resolve differences

Oil firms' Q2 net loss over Rs8,000 crore



Events for the day

Results: Apollo Tyres, Bharat Forge, Bhushan Steel, SBI

Indian Indices:

Italian Prime Minister Silvio Berlusconi became the biggest political casualty of Europe's debt crisis on Tuesday when he announced he would step down after being stripped of his majority in parliament. The concerns over Italy eased that sparked a rally across the globe. The Indian markets may begin on a positive note tracking strong global cues.

Italy's prime minister exit raised hopes that the debt-ridden country would proceed with reforms to contain the euro zone's sovereign debt crisis from spreading.

Other companies that will announce results today are CESC, Glenmark Pharmaceuticals, GMR Infrastructure, Indian Oil Corporation, JSW Energy, Lupin, Neyveli Lignite Corporation, Power Finance Corporation, Ranbaxy Laboratories, Shriram Transport Finance Co, Tata Communications and Voltas.

Daily trend of FII/MF investment in equities

The FIIs have purchased Indian stocks to the tune of Rs215.90 crore on November 08, 2011. The domestic investors purchased Indian shares worth a net of Rs198.80 crore on November 04, 2011. The data is as per the SEBI website.

Global signals

The European shares surged on Tuesday (November 08, 2011), boosted by earnings news and hopes Italy's leader could soon step down, helping its austerity reforms and the region's debt crisis.

The US stocks closed higher on Tuesday for a second day in a row as late-day news about Europe sparked rally that erased early weakness.

The Asian stock market rose on Wednesday (November 09, 2011), following news that Italy's prime minister would resign, paving the way for austerity reforms to ease the euro zone's debt crisis. SGX Nifty was trading 26 points higher, indicating a positive start for the Indian markets.

Commodity cues

Oil prices rose on Tuesday after volatile trading as news that Italy's Prime Minister Silvio Berlusconi is to resign following approval of a new budget deal sparked a late-session rally.