Markets head towards a flat opening

Owing to the current global scenario, the Indian indices are likely to open on a flat note. Hind Copper, NCC, Cipla, Suzlon will declare results

Headlines for the day:

Reliance hires advisors to explore Atlas options

Infra fin cos to raise Rs5,000 crore via bonds

SAIL decides to retain merchant bankers for Rs8,000 crore FPO



Events for the day:

Major corporate action

Ex-date for interim dividend of NTPC, Shree Cement
Results: Hind Copper, NCC, Cipla, Divi's Labs, Suzlon, Oracle Financial
For more events and news, log on to Sharekhan.com

Pre-market report

Indian indices

The markets seem to be in a bounce back mode after several days of heavy decline. Today, the major Asian indices are not trading; this may lead the Indian markets to start the session on a flat note.

If the foreign institutional investors (FIIs)’ selling trend continues, it may drag the markets lower. One is expected to remain cautious. Investors should also keep an eye on the companies reporting earnings.

Daily trend of FII/MF investment in equities

The FIIs have sold Indian stocks worth a net of Rs46.10 crore on February 03, 2011 as compared to the net sell of Rs425.70 crore on February 02, 2011. The domestic investors have sold Indian shares worth a net of Rs222.70 crore on February 01, 2011.

Global signals

The European shares ended flat on Thursday (February 03, 2011), after weak results from heavyweights Royal Dutch Shell and Santander were offset by data showing the US economic recovery was gathering pace.

The US markets ended near the session's highs, with investors favouring shares of retailers after encouraging chain-store sales raised confidence ahead of Friday's jobs report.

The Asian markets were trading higher following overnight Wall Street gains. Other indices in China, Hong Kong, South Korea, Taiwan, Singapore, Malaysia, Indonesia and Vietnam are shut today for the Lunar New Year holiday. SGX Nifty was trading 13.5 points lower, suggesting for a cautious start on the Indian bourses.

Commodity cues

Crude oil prices fell on Thursday as a stronger dollar pulled crude off a 28-month high that was struck on concern unrest in Egypt could spread and disrupt oil shipments from the Middle East.