Markets may extend rally on good global cues

The improving US jobs data has lifted global sentiment. The start is likely to be on a strong note, extending previous sessions’ rally.

Headlines for the day

Govt to loan Rs3,000 cr to financially strained railways
Piramal Healthcare buys 5.5% more stake in Vodafone India
Kingfisher puts plans to join oneworld alliance on hold
NMDC looks to acquire mineral assets overseas
Banks ask borrowers to cover their personal loans, overdraft facilities

Events for the day

Results: GSK Consumer Healthcare, HUL, NALCO



Indian indices
The US economy showing further improvement with forecast-beating jobs data bolstered investor risk appetite. Tracking bullish world stocks, the Indian markets may follow the global counterparts and start the first session of the week on a strong note.
Earnings may also dictate the near-term trend. Other earnings scheduled to release today — Adani Ports and Special Economic Zone, Adani Power, MOIL, India Cement, BGR Energy, Merck and Hanung.
Daily trend of FII/MF investment in equities
The FIIs have been net buyers of the Indian stocks to the tune of Rs2,134.90 crore on February 02, 2012. The domestic investors have sold Indian stocks worth a net of Rs112.80 crore on February 02, 2012. The data is as per SEBI website.
Global indices
The European stocks rose on Friday (February 03, 2012), as manufacturing increased globally and the US jobless rate fell to the lowest in three years.
The US stocks rose on Friday after the US economy added more jobs than expected last month, driving the Nasdaq Composite to an 11-year high and pushing the Dow to its highest close in nearly four years.
The Asian stocks were trading higher on Monday (February 6, 2012) supported by robust US jobs data. SGX Nifty was trading 50 points higher, suggesting a positive opening for the Indian markets.
Commodity cues
US Crude Oil prices rose on Friday after a report showed the US economy in January created jobs at the fastest pace in nine months, fueling hopes of stronger demand in the top petroleum-consuming nation.