Markets to start strong; Inflation nos eyed

The Indian markets are set to start the session on a strong note mirroring supportive global markets; the inflation numbers for January 2011 will be in focus

Headlines for the day:

2G spectrum scam: CBI questions brass of nine telcos

IT majors race for $700 million South African bank deal

BSE mulls pre-open trade on IPO stocks on listing day



Events for the day:

Major corporate action

Monthly inflation to be announced today, to view the update on this, kindly log on to Sharekhan.com at 12 pm.
Jubilant Industries to be listed today
Reliance Infra board to consider buyback
Results: Tata Power, Unitech, Reliance Comm, GSK Pharma

Pre-market report

Indian indices

The Indian markets may expect a strong start as the overseas cues are optimistic. The relief rally may be extended on global support. However, the markets will need little nudging on declines to push values higher.

At home, multiple actions are expected to take place. Monthly inflation numbers for January 2011 are scheduled to be announced later today, which may bring some volatility into the markets. Encouraging results from biggies like Tata Motors and Reliance Capital may keep the stocks in action.

The ongoing tensions on 2G scam may keep the telecommunication shares under pressure.

Majority of the companies will declare results today - Tata Power, Religare Enterprises, Jubilant Life Sciences, Unitech, Reliance Communications, Glaxosmithkline Pharmaceuticals, Reliance Power, Videocon Industries, the stocks may remain in focus.

Daily trend of FII/MF investment in equities

The FIIs have sold Indian stocks worth a net of Rs845.40 crore on February 11, 2011 as compared to the net sell of Rs284.70 crore on February 10, 2011. The domestic investors have bought Indian shares worth a net of Rs76.90 crore on February 10, 2011.

Global signals

The European markets ended a three-day losing streak on Friday (February 11, 2011), with commodity stocks boosted by news that embattled Egyptian President Hosni Mubarak had stepped down.

The US markets rose on Friday after President Hosni Mubarak resigned, helping clear Egypt's clouded political picture and lifting investor sentiment.

The Asian markets were trading higher tracking Wall Street gains. SGX Nifty was trading 37 points higher, pointing towards a positive start on the Dalal Street.

Commodity cues

In the US, crude oil prices fell to a 10-week low after Egyptian President Hosni Mubarak stepped down and handed over power to the army.