Markets expect a flat start; IIP data eyed

The Indian indices are likely to begin the session on a flat note tracking mixed global markets. The IIP numbers for December 2010 will be in focus

Headlines for the day:

ONGC says its approval not needed for Cairn deal

Ambani's Reliance Communications profit May drop on rates

Indian Oil Corp's Rs20,000 crore public issue put on hold

Events for the day:

Major corporate action

IIP data for Dec 2010 to be announced today
Zee Entertainment board to consider buyback of equity shares
Results: HPCL, MTNL, Tata Motors, Apollo Tyres, Aban Offshore
For more events and news, log on to Sharekhan.com

Pre-market report

Indian indices

The Indian equities have been hit drastically this week till now, with the Sensex and the Nifty down by 545 points (3.03%) and 170 points (3.15%) respectively.

In today's trade, the mixed global cues may lead the domestic markets to start flat. However, market sentiments still remain weak, so one needs to be cautious while taking any fresh position in near term.

The market observers may feel the latest industrial growth numbers for the month of December, 2010, which are slated to be announced today, are expected to give some respite to the markets.



Daily trend of FII/MF investment in equities

The FIIs have sold Indian stocks worth a net of Rs284.70 crore on February 10, 2011 as compared to the net sell of Rs531.60 crore on February 09, 2011. The domestic investors have sold Indian shares worth a net of Rs203.60 crore on February 09, 2011.

Global signals

European markets fell for the third straight session on Thursday (February 10, 2011), hit by disappointment with several corporate results.

The US markets closed flat as Egypt's embattled President Hosni Mubarak told protesters he would not resign, dashing their hopes he was stepping down.

The Asian markets were trading mixed as tensions remained high after Egyptian President Hosni Mubarak refused to quit despite mass protests. Japanese markets are shut for a public holiday. SGX Nifty was trading 4.5 points higher, pointing towards a subdued start on the Dalal Street.

Commodity cues

Crude oil prices climbed back past $87 per barrel in New York, after price momentum slowed with a report that US stockpiles increased last week.