Market may continue to rise on global support

The Indian markets are set to begin trade on a positive note led by positive global cues. SGX Nifty is trading 8.50 points higher. Events for the day: Results: Aurobindo Pharma, NHPC, Tata Chemicals, United Breweries. Headlines for the day: RIL agrees to financial audit by CAG. Pipavav bags two international orders worth Rs1,192 crore. Construction industry outlook stable in H2, says Fitch. Court allows Telenor JV to seek interest for assets. Indian Indices: Today, the Indian markets may extend yesterday’s rally and open in the green zone tracking positive global cues. SGX Nifty is trading 8.50 points higher. Major companies reporting results today — Aurobindo Pharma, NHPC, Tata Chemicals, United Breweries. On Monday (August 06, 2012), the Sensex closed at 17412, up by 215 points while the Nifty settled at 5282, rising by 66 points. Global Indices: Asian stock markets steadied on Tuesday (August 7, 2012) as investors maintained hope that Europe will take further action to tackle its debt crisis and the United States and China will adopt stimulus measures to boost growth. European shares closed at their highest level of more than four months on Monday (August 6, 2012), with cyclical shares driving gains on the back of recent US economic data and hopes for fresh policymaker action to help debt-market strugglers Spain and Italy. US stocks closed at three-month highs for the second day in a row on Monday, extending last week's rally on the hope for more assistance for the troubled euro zone. Daily trend of FII/MF investment in equities: The FIIs have been the net buyers Indian stocks to the tune of Rs167.60 crore on August 03, 2012. The domestic investors sold Indian shares worth a net of Rs88.40 crore on August 03, 2012. The data is as per the SEBI website. Commodity Cues: Oil prices surged for a second straight session on Monday, closing at the highest level in 11 weeks, as US stock markets rallied to a three-month high and as traders eyed ongoing turmoil in the Middle East.