Flat start on the cards

The Indian markets are likely to begin the trade on a flat note as the Asian cues do not look supportive.

Headlines for the day:

Tata Tele, RCom trade charges over dual-tech

Hero Motors sells 17.6% in Munjal Kiriu to partner

Tata Motors subsidiaries to merge



Events for the day:

Major corporate action

Bill Energy Systems to be listed today
Ex-date for interim dividend of Suprajit Engineering
Results: Tata Steel
For more events and news, log on to Sharekhan.com

Pre-market report

Indian indices

After posting solid gains in the previous session, the Indian markets are expected to remain flat at start tracking unsupportive Asian cues. Investors should focus on Asian indices to see if they extend gains. The prevailing mood is expected to remain of profit-taking.

Tata Steel, world's seventh largest steel company, will declare its results today; stock will remain in action.

Bill Energy Systems will list on the bourses today.

Daily trend of FII/MF investment in equities

The FIIs have sold Indian stocks worth a net of Rs434.40 crore on February 14, 2011 as compared to net sell of Rs845.40 crore on February 11, 2011. The local investors have purchased Indian shares worth a net of Rs253.70 crore on February 11, 2011.

Global signals

The European shares hit a 29-month closing high on Monday (February 14, 2011), with miners up after Chinese trade data highlighted strong demand for raw material and as talk of easing inflation in the country capped fears of further tightening.

Energy and commodity shares lifted Wall Street to modest gains on Monday, but the lowest volume so far this year indicated the equity rally may be near a top.

The Asian markets were trading mixed. SGX Nifty was trading 9 points down; this may lead to a flat start for the Indian markets.

Commodity cues

The price of benchmark crude fell to its lowest level in 12 weeks Monday as oil traders weighed growing US oil supplies against unrest in the Middle East.