Markets expect a strong start on global support

Indian markets are set to begin on a positive note led by positive global cues. SGX Nifty is trading 52.50 points higher. Events for the day: Results: Dish TV India, Dr. Reddy's Laboratories, Hero Motocorp, Kotak Mahindra Bank, L&T Finance Holdings. Headlines for the day: TDSAT sets aside Rs50 cr penalty on telcos over SIM card issue. Violence at Maruti's Manesar plant, production affected. MTNL employees plan indefinite protest from Jul 24. Corporation Bank to seek more time to pare bulk deposits. Indian Indices: Today, the opening on Dalal Street is expected to be on a positive note tracking positive global cues. SGX Nifty is also trading 52.50 point higher. Major companies reporting results today — Dish TV India, Dr. Reddy's Laboratories, Hero Motocorp, Kotak Mahindra Bank, L&T Finance Holdings. On Wednesday (July 18, 2012), the Sensex closed at 17185, up by 79 points while the Nifty settled at 5216, rising by 23 points. Global Indices: Asian shares surged on Thursday (July 19, 2012) as strong corporate profits from US bellwethers allayed fears of a slowdown in earnings while the euro steadied after being hit by reported comments from German Chancellor Angela Merkel who rekindled the fears of the euro zone debt crisis. European equity markets surged to two-week highs on Wednesday (July 18, 2012), buoyed by a string of upbeat corporate earnings globally, which helped to push the investor’s risk appetite to its strongest in nearly four months. US stocks extended gains on second day and touched session highs yesterday, turbocharged by a rally in tech stocks and by Federal Reserve Chairman Ben Bernanke’s comments and undeterred by a slightly weaker Beige Book. Daily trend of FII/MF investment in equities: The FIIs have been the net buyers Indian stocks to the tune of Rs570.70 crore on July 17, 2012. The domestic investors sold Indian shares worth a net of Rs91.60 crore on July 17, 2012. The data is as per the SEBI website. Commodity Cues: Oil prices surged a sixth session on Wednesday as violence in Syria intensified and tensions with Iran heightened, and US Federal Reserve Chairman Ben Bernanke downplayed the risk of a double-dip recession.