Markets expect higher opening

The Indian markets are likely to begin the session on a positive note tracking higher global stocks. Uncertainty may remain over European debt issues

Headlines for the day

RBI gives banks more power on customers' overseas loans
SBI eyes higher profits in FY12, plans expansion abroad
Oil Min rejects RIL's gas price hike plan: Sources
Temasek to sell 1.4% in ICICI Bank
Net direct tax mop-up rises 9% at Rs 3.46 lakh-cr in Apr-Jan
EGoM nod to extra 1 MT sugar export, basmati rice MEP slashed


Events for the day
Results: Bharti Airtel, ONGC, Power Grid, Tech Mahindra
Indian indices
The global cues look okay today and may lead the Indian markets to start the trade in green. Renewed optimism that Greece's debt restructuring would be completed soon restored some confidence in markets. Investors may remain cautious amid an earnings season. Amid the backdrop of the European debt issues, markets may stay in narrow range.
Other results in focus today — Bharat Forge, Jubilant Foodworks, JSW Ispat Steel, Orchid Chem and Tulip.
Daily trend of FII/MF investment in equities
The FIIs have purchased Indian stocks worth a net of Rs1104 crore on February 06, 2012. The domestic investors have bought Indian stocks worth a net of Rs89.30 crore on February 06, 2012. The data is as per SEBI website.
Global indices
The European shares ended mostly lower on Tuesday (February 7, 2012) after investor optimism that Greece is progressing towards a deal to avoid a chaotic debt default helped stocks recover ground from earlier losses on the back of weak company earnings.
The US stocks rose slightly on Tuesday, but with the outcome of discussions on a bailout package for Greece uncertain, investors are unlikely to make big bets in coming days.
The Asian stock markets climbed modestly on Wednesday (February 8, 2012), helped by signs of progress over debt restructuring talks in Greece. SGX Nifty was trading 17 points higher.
Commodity cues
The US crude jumped more than 1.5% on Tuesday, bolstered by an unplanned outage at a Canadian oil sands plant and optimism about an agreement on Greece's debt problems.