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Friday, February 03, 2012

Markets may see subdued opening


The start is likely to be subdued on account of mixed global cues. The trading may remain rangebound ahead of key US jobs data.

Headlines for the day
Air India to clear dues to oil cos on Friday

RIL representatives to face PAC today on gas block issue

Aanjaneya Lifecare buys Apex Drugs for Rs250 cr

Govt to infuse Rs18K cr in 12 PSU banks this fiscal

SBI says it has Rs4,500 cr exposure in telcos

RBI asks banks to evaluate risk of unhedged forex



Events for the day:

Results: Dr.Reddy's Labs, Hind Copper, PFC
Indian indices
Recent economic data suggesting the economy is on a slow but steady path to recovery had helped fuel a rally in global stocks in the previous sessions. Going into today’s trade, the opening is expected to be muted on account of mixed global cues. Market players may take a wait-and-see stance ahead of US payroll data and as Greece has not reached a debt swap deal yet.
Other results expected today — Container Corporation of India, Godrej Industries, Pidilite Industries, Take Solutions and Rolta India.
Daily trend of FII/MF investment in equities

The FIIs have purchased Indian stocks to the tune of Rs2092.70 crore on February 01, 2012. The domestic investors have purchased Indian stocks worth a net of Rs184.50 crore on February 01, 2012. The data is as per SEBI website.
Global signals

The European shares hit a fresh six-month closing high on Thursday (February 02, 2012), after US weekly jobless claims showed the market was improving, while Xstrata and Glencore led the risers on confirmed merger talks.
The US markets were mixed on Thursday after the Labor Department said first-time claims for unemployment benefits fell modestly last week.
The Asian stock markets were stuck in ranges on Friday (February 3, 2012), ahead of key US jobs data, which will offer more clues over the state of the world's largest economy, while Greek debt restructuring talks dragged on. SGX Nifty was trading 10 points higher.
Commodity cues

The US Crude Oil tumbled to a fresh six-week low on Thursday, falling below $97 for the first time since December 19, on weak demand and rising supplies.