Markets head towards a higher opening

Hopes that Europe will come up with actual measures to support Greece and shore up European banks have strengthened investor confidence. The markets are expected to extend gains at start.

Headlines for the day:

Kingfisher may use money with lessors to repay debt
Moser Baer to inaugurate 30 Mw solar parks in Gujarat
Bharti Walmart ties up with farmers in Maha
Festival season hiring on rise amid hopes of increase in sales



Events for the day

Release of weekly inflation data

Results: Piramal Life Sciences, Praj Industries, Kajaria Ceramics

Indian indices

Slovakia lawmakers struck a deal to ratify more powers for the euro zone's rescue fund, known as the EFSF, effectively ending a crisis that had threatened the euro's survival and has weighed on stocks and other risky assets for months.

Growing expectations that policy makers can work out a viable plan to contain the euro-zone debt crisis have lifted the sentiments. The Indian markets may open on a positive note tracking global rally owing to euro-fund optimism. Volatility may remain as weekly inflation numbers will be out today.

Daily trend of FII/MF investment in equities

The FIIs have bought Indian stocks worth a net of Rs183.10 crore on October 12, 2011. The domestic investors have bought Indian shares worth a net of Rs344.50 crore on October 11, 2011. The data is as per the SEBI website.

Global signals

The European stock markets rose on Wednesday (October 12, 2011), with financial shares leading the gains, on rising expectations that policy makers can work out a viable plan to stem the euro-zone debt crisis much sooner than previously thought.

The US stocks rose on Wednesday as Europe's progress toward bolstering its financial rescue fund brought more battle-weary investors back into the market.

The Asian shares were trading with gains on Thursday (October 13, 2011) on growing hopes that Europe is taking concrete steps to contain the region's debt woes and head off a systemic banking crisis. SGX Nifty was trading 17 points higher.

Commodity cues

Crude oil rose on Wednesday as Slovakian lawmakers appeared ready to approve an EU plan to strengthen the euro zone rescue fund.