Markets expect a subdued start

Another quiet start is expected in today's trade. Weekly inflation numbers will be declared today

Headlines for the day:

Oil Ministry backs BP's stake buy in RIL

Ranbaxy recalls skin care drug from UK

Mumbai property registration dips in June, sharpest decline this year



Major corporate action

Events for the day

India’s weekly inflation to be announced today, to view the update on this, kindly log on to Sharekhan.com at 12 pm.
Rushil Decor, Birla Pacific Medspa will list today.
For more events and news, log on to Sharekhan.com.

Indian indices

The Indian market seems to have lost its strength after last week’s rally. The markets are heading for another muted start looking at the mixed Asian cues. The global scenario is still uncertain and this will lead to a cautious trade.

Volumes have remained light and it is expected to continue, which could keep trading choppy. Weekly inflation numbers will be declared today.

Listing: Birla Pacific Medspa and Rushil Decor will list its equity shares today. Birla Pacific Medspa has fixed the issue price of the company at Rs10 per share, the lower end of the price band. Rushil Decor has fixed issue price at higher end of price band of Rs63-72 a share.

Daily trend of FII/MF investment in equities

The FIIs have bought Indian stocks to the tune of Rs860.60 crore on July 06, 2011. The domestic investors have sold Indian shares worth a net of Rs100.90 crore on July 05, 2011. The data is as per the SEBI website.

Global signals

The European fell on Wednesday (July 06, 2011) after gaining for the seven straight sessions as worries over debt contagion in Europe and the demand outlook in China hit banking and commodity stocks.

Transportation stocks were among the standouts in another flat session for the US equities on Wednesday, and the sector's rally could be cause for optimism ahead.

The Asian markets were trading mixed on Thursday (July 07, 2011). SGX Nifty was trading 3 points higher.

Commodity cues

Oil prices settled near flat on Wednesday, buffeted in low-volume trade as an interest rate hike by China and Europe's debt woes kept demand concerns in focus ahead of weekly reports expected to show a drop in US crude stocks.