Flat start likely; IIP in focus

Today’s opening is likely to be on a flat to positive note led by positive global cues. Index of industrial production data for February will be out today.

Headlines for the day:

Zee TV becomes first Indian channel to foray into China.
M&M to consolidate R&D units, to roll out tractor soon.
ADB expects RBI to cut interest rates.
FM for foreign carriers investing in domestic airlines.
IOB eyes 16-18% credit growth in FY13.



Events for the day:

New Listing: MT Educare.

IIP data for February 2012.

Indian Indices:

The index of industrial production ( IIP) data for February 2012 will be out today and may provide some direction for markets.

New Listings: An education support and coaching services provider, MT Educare will list its equity shares today (April 12, 2012). The issue price is fixed at higher end of price band of Rs74-80 a share.

Coming to today’s opening, the Indian markets are likely to begin on a flat to positive note tracking positive global cues. Volatility may remain high on the back of IIP. SGX Nifty is trading 2.50 points lower.

On Wednesday (April 11, 2012), The Sensex settled 44 points lower at 17199 and the Nifty closed at 5227, down by 17 points.

Global Cues:

Asian stock markets were modestly higher on Thursday (April 12, 2012), but investors remained cautious amid geopolitical risks as North Korea's planned launch of a long-range rocket depressed the mood.

European shares rose on Wednesday (April 11, 2012), as bond yields in Italy and Spain fell after a member of the European Central Bank's policy-making council sparked speculation about a restart of the bank's bond-buying program.

US Stock markets rallied on Wednesday, recouping some of their losses from a day earlier, when fears grew that the US economy was slowing and Europe’s debt crisis returning.

Daily trend of FII/MF investment in equities:

The FIIs have been the net sellers Indian stocks to the tune of Rs1039.20 crore on March 10, 2012.The domestic investors sold Indian shares worth a net of Rs206.70 crore on March 09, 2012. The data is as per the SEBI website.

Commodity Cues:

Oil prices surged on Wednesday after the government data showed domestic fuel stocks fell much more than expected last week, while a decline in imports limited a rise in crude inventories.