Markets may rise at start

The steps have been taken by the European Central Bank to ease some of the pressure on European banks. Tracking gains across the globe, the Indian markets are set to begin on a positive note.

Headlines for the day:

Bosch workers to decide on intensifying strike
NMDC lines up Rs 2,450-crore capex
SAIL seeks gas for Jagdishpur power plant.
Muthoot Fincorp to set up 50 branches in Rajasthan



Events for the day

Major corporate action

Ex-date for final dividend of Patel Engineering
Ex-date for dividend of GTL, Frontier Leasing & Finance Co.
New Listing: RDB Rasayans

Indian indices

The global sentiments look good today after the European Central Bank announced aggressive liquidity measures and the European Union said it would present a plan for a coordinated recapitalization of banks by member states. The Indian markets are expected to start on a positive note tracking gains across the globe. The banking shares will hog the limelight today.

New Listing: Packaging material manufacturer RDB Rasayans is going to list its equity shares on the BSE today. It has fixed the issue price at higher end of price band of Rs72-79 a share. The company raised Rs35.55 crore through the IPO of 45 lakh equity shares, by diluting 25.40% stake.

Daily trend of FII/MF investment in equities

The FIIs have sold Indian stocks worth a net of Rs966.10 crore on October 05, 2011. The domestic investors have sold Indian shares worth a net of Rs95.20 crore on October 04, 2011. The data is as per the SEBI website.

Global signals

The European stocks surged on Thursday (October 06, 2011) as central banks moved to pump money into European economies and investors became more confident that leaders would step in to recapitalize ailing euro-zone banks.

The US stocks rose for a third day in a row on Thursday as developing euro zone plans to backstop European banks gave investors hope that the threat of a financial crisis was waning.

The Asian stocks rose on Friday (October 07, 2011) after euro zone policymakers moved to shore up struggling banks and fend off a new financial crisis. SGX Nifty was trading 56 points higher. Shanghai Composite remained shut on Friday.

Commodity cues

Crude Oil fell on Thursday on speculation that the rally was exaggerated amid US unemployment and signs of slowing global demand for crude.