Global optimism may lead markets to start strong

It is expected to be a healthy opening tracking supportive global cues. Inventure Growth & Securities IPO closes today.

Headlines for the day:

OHPC and NHPC jointly to launch 320 MW hydro power prjoect

Emami to set up oil refinery in Andhra

Dr Reddy's scouts ally for new chemical entity Balaglitazone

Major corporate action

Inventure Growth & Securities IPO closes today
Results: Allahabad Bank, Axis Bank, Colgate-Palmolive, Indiabulls Real Estate, Ispat Industries, Jet Airways
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Indian indices

Investors largely remained unwilling to pile up hefty long positions and indulged only in stock specific activity till now in this week.

However, today’s opening is likely to be on a strong note looking at the positive global scenario on European deal. The global sentiment improved after euro-zone leaders struck a deal on a second bailout package for Greece. The Indian markets may track global peers for direction.

The major companies announcing results are Allahabad Bank, Axis Bank, Colgate-Palmolive, Indiabulls Real Estate, Ispat Industries, Jet Airways; the stocks will be eyed.

Daily trend of FII/MF investment in equities

The FIIs have sold Indian stocks worth a net of Rs31.10 crore on July 21, 2011 as compared to the net buy of Rs417.50 crore on July 20, 2011. The domestic investors have sold Indian shares worth a net of Rs17.10 crore on July 20, 2011. The data is as per SEBI website.

Global signals

The European markets ended with solid gains on Thursday (July 21, 2011), with bank stocks getting a boost as euro-zone leaders moved toward a new response to the sovereign-debt crisis.

The US markets surged on Thursday as signs of progress on the US debt talks and concrete action from Europe on its own debt crisis heartened investors.

The Asian stock markets rose on Friday (July 22, 2011), after officials agreed on measures to solve Greece's debt woes. SGX Nifty was trading 48 points higher, indicating for a strong start on the Indian bourses.

Commodity cues

Brent crude fell on Thursday, dragged down in an aggressive late sell-off in gasoline and spreads due in part to US demand concerns.