Markets may start strong on positive global cues

The first session of March 2011 may begin on a positive note tracking healthy global markets
Headlines for the day:

OMCs may raise petrol prices by up to Rs 4 a litre
Cement makers likely to hike prices
SBI gets right to reduce stake in subsidiaries



Events for the day:

Major corporate action

Paraan board to consider stock split
For more events and news, log on to Sharekhan.com
Pre-market report

Indian indices
Investor mood perked up as the Union Budget exceeded Street expectations. It was like a soothing effect for the markets after recent losses. Now the question maybe arising in most of the people’s mind that the budget is good but will it execute, will it deliver?
In today’s trade, the global stocks look healthy after a Federal Reserve official said that the US economy was in very good shape for 2011 and that oil prices rising on Middle East tensions were not currently a drag on the recovery. The start on the Dalal Street is expected to be good tracking positive global markets.

Daily trend of FII/MF investment in equities

The FIIs have sold Indian stocks worth a net of Rs529.40 crore on February 28, 2011. The local investors have sold Indian shares worth a net of Rs60.40 crore on February 25, 2011.

Global signals

European shares rose on Monday (February 28, 2011) gaining for the third straight month after a Federal Reserve official gave a bullish US outlook, easing investor fears high oil prices would hurt growth.

Bullish comments from Warren Buffett helped U.S. stocks end another good month on a high note on Monday, but uncertainty about oil prices could keep investors from pushing the market much higher.

All the major Asian indices were trading higher tracking Wall Street’s overnight gains. SGX Nifty was trading 43 points up; this may lead to a positive start for the domestic markets.

Commodity cues

Oil prices fell on Monday in volatile trading as expectations that increased production from Saudi Arabia can offset supply disruptions in the region allowed investors to pause after Libya's turmoil sent prices to 2-1/2-year peaks last week.