Negative opening likely; Inflation nos in focus

The Asian cues do not look supportive and may lead to a negative opening for the Indian markets. The inflation numbers will be eyed.

Headlines for the day:

RCom-Digicable deal under govt lens

Havells to focus on expanding switchgear arm

DLF arm paid Rs153 crore to settle dispute



Major corporate action

India’s weekly, monthly inflation will be announced today, to view the update on this, kindly log on to Sharekhan.com at 12 pm.
Bharatiya Global Infomedia IPO closes today
Results: Bajaj Auto, Bajaj Holdings & Investment, TCS

Indian indices

Markets may again witness some nervousness in today’s trade owing to increasing concerns about the US debt woes coming on top of euro zone debt worries. Today’s opening is likely to be on a weak note on account of negative Asian markets. The sentiment was hurt after Moody's Investors Service warned of a possible downgrade of US government debt.

Inflation numbers for week and June will be out today. Investors will closely watch the numbers as it could have a bearing on the RBI's decision making process in its policy review on July 26, 2011. It is expected to hike rates by 25bps.

The major companies announcing results are Tata Consultancy Services, Bajaj Auto, Bajaj Holdings & Investment; the stocks will remain in focus.

Daily trend of FII/MF investment in equities

The FIIs have sold Indian stocks worth a net of Rs917.40 crore on July 13, 2011 as compared to the net buy of Rs474.30 crore on July 12, 2011. The domestic investors have sold Indian shares worth a net of Rs44.10 crore on July 12, 2011. The data is as per SEBI website.

Global signals

The European markets rose on Wednesday (July 13, 2011) as Chinese macro data boosted mining shares and offset losses in consumer-related stocks after poor figures from Carrefour and L'Oreal.

The US markets stopped a three-day slide on Wednesday, but the market is likely to get hit in the coming session after Moody's said it could cut the United States' prized triple-A credit rating.

Majority of the Asian markets were trading lower on Wednesday. SGX Nifty was trading 40.5 points down, indicating for a negative start on the Indian bourses.

Commodity cues

Crude oil prices rose for a second day on Wednesday, as Federal Reserve Chairman Ben Bernanke signaled more stimulus coming if the economy weakens.