Markets set for a positive start; IIP data eyed

Today’s opening is likely to be on a positive note led by gains across the globe after EU deal. Index of industrial production data for October will be out today.

Headlines for the day:

Lupin eyes $300 mn revenue from Japan in next 2 yrs

Central Bank waives pre-payment on housing loans

RIL eyes energy targets in the Americas

Govt may face Rs25K crore direct tax shortfall in 2011-12

GAIL signs pact to buy 3.5 MT per year LNG from US

Events for the day:

IIP data for October

Ex-date for dividend of Kemrock Industries & Exports, IMP Powers

Ex-date for final dividend of Caplin Point Laboratories



Indian indices

The Indian markets are set to begin a new week on a positive note mirroring gains across the globe. The sentiments got a boost after the European Union (EU) leaders came to an historic agreement to draft a new treaty for deeper economic integration, easing worries about the region's debt crisis.

Reports stated that China planned a new $300 billion vehicle to invest in Europe and the United States also buoyed sentiment.

Back home, index of industrial production ( IIP) data for October will be out today. Volatility is expected to remain in today’s trade. Further, airline stocks will hog the limelight as the Civil Aviation Ministry has agreed to the proposal of allowing foreign carriers to buy 26% stake in private airlines.

Daily trend of FII/MF investment in equities

The FIIs have been net buyers of the Indian stocks to the tune of Rs195.60 crore on December 09, 2011. The domestic investors have sold Indian stocks worth a net of Rs220.70 crore on December 08, 2011. The data is as per SEBI website.

Global signals

The European shares surged on Friday (December 09, 2011) in a tentative relief rally, after a majority of European leaders agreed to work towards stricter budget discipline at a crucial summit.

The US stocks rose Friday, as investors awaited US economic data and digested news that at least 23 European Union nations have agreed to pursue closer fiscal ties.

The Asian stocks gained on Monday (December 12, 2011), after European Union leaders came to an historic agreement to draft a new treaty for deeper economic integration, easing worries about the region's debt crisis. SGX Nifty was trading 24 points higher, suggesting a positive opening for the Indian markets.

Commodity cues

US crude oil prices rallied on Friday, after a choppy start, as an agreement for a closer euro zone fiscal union and news of a Chinese fund for US and European investment lifted the euro and equities markets.