Markets may extend gains at start

The opening is expected to be on a strong note on receding worries over Greece debt crisis.

Headlines for the day:

Cairn deal gets conditional okay

Core sector growth slows to 5.3% in May

Cox & Kings eyes global buys to raise Rs1,500 crore via FIIs




Events for the day:

Major corporate action

India's monthly cement production & dispatches figures, monthly auto sales numbers to be out today

Export & import data for the month of May 2011

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Indian indices

Sentiments remained upbeat across the globe after Greece's parliament passed a final vote on austerity measures.

On this first day of new month July, the markets are likely to extend gains. The start is expected to be on a positive note on supportive global cues.

It is an event-packed day, as India's auto sales numbers, cement production & dispatches figures for the month of June will be out from today, which may provide some direction to the markets. This will keep auto and cement stocks in focus. Also, India's export & import data for the month of May 2011 will be announced today.

Daily trend of FII/MF investment in equities

The FIIs have bought Indian stocks worth a net of Rs771.80 crore on June 30, 2011 as compared to the net buy of Rs1,016.10 crore on June 29, 2011. The domestic investors have bought Indian shares worth a net of Rs134.50 crore on June 29, 2011.

Global signals

The European markets hit their highest level in almost four weeks on Thursday (June 30, 2011) after Greece's parliament passed a final vote on austerity measures, boosting market confidence that the country can pay its bills in the short-term.

The US markets ended a volatile quarter on Thursday with their biggest four-day rally since September as positive economic data and a temporary resolution of Greece's debt crisis indicated further gains in July.

The Asian markets were trading higher on Friday except Shanghai Composite, on the back of strength in the Wall Street. SGX Nifty was trading 44 points higher, indicating towards a strong start on the Indian bourses.

Commodity cues

Brent crude futures finished slightly higher in seesaw trading on Thursday, with investors concerned about violence in Greece and uncertainty surrounding the IEA's emergency oil release plan.