Sensex may open gap-up With strong global cues, Sensex may open higher, while the Q2 numbers to be out today may help the market to trade in the positive zone.
Monday was a day of gains for the global indices, wherein the major US indices closed with decent overnight gains of close to 1% each, while the European markets closed stronger, with gains of over 1.76% for FTSE 100, even the major Asian indices traded higher except for the Nikkei 225. While in todays trade, all the major Asian indices were trading in green with the gains in the range of 0.18% and 1.19% each. Even the Singapore Nifty was trading 32 points above its previous days settlement price. Such strong performance by the global indices may help the Sensex to open higher to its previous close. Besides, markets will look forward to the results to be announced by Tech Mahindra, Apollo tyres, Sterlite Tech, Sesa Goa and Polaris Laboratories.
On the back of rising optimism on the corporate earnings front, weakening of dollar and rising commodity prices, Dow not only managed to sustain the 10000 level but also managed to surge higher on Monday. The major US indices closed with almost 1% gains each owing to the increasing liquidity that was mainly driven by the rise in the investors risk appetite. The Dow closed 96 points higher at 10092, while S&P 500 ended the day inching closer to the significant 1100 level and surged by 10 points to close at 1098, even Nasdaq gained 20 points to close at 2176.
Among the Indian ADRs trading on the US bourses, Rediff, Satyam and Dr Reddys ended the day in negative zone, wherein Rediff lost the most and declined by 8.55% in the days trade. While amongst the gainers, MTNL surged the most with gains of over 3.24%, while other ADRs like Infosys, Tata Motors, Wipro, VSNL, ICICI Bank and HDFC Bank gained about 0.65-2.51% each.
In the commodity space, Crude oil prices advanced towards $80, with the Nymex light crude oil for November series rising by $1.08 to close at $79.61 a barrel. While in the metals space, the Comex Gold for December series rose sharply by $6.60 to settle at $1058.10 a troy ounce and Comex Silver for December series surged by $0.21 to settle at $17.63 a troy ounce.
Daily trend of FII/MF investment in equities
On October 16, 2009, FIIs remained the net buyers of the Indian Stocks in the tune of Rs963.10 crore (with the gross purchase of Rs3924.20 crore and gross sales of Rs2961.10 crore). While the Domestic mutual funds mutual funds, on October 15, 2009, were the net seller of the stocks in the tune of Rs499.60crore (with gross purchase of Rs579.00 crore and gross sales of Rs 1078.60 crore).
Headlines for the day
Bhushan Steel plans SME park in Orissa
Government okays stake sale in power firms
Inflation data to be released monthly
Telenor gets nod to up stake in Unitech
Ambani brothers' gas dispute set for Supreme Court date
Events for the day
Major results: Apollo tyres, Polaris Laboratories, Sesa Goa, Sterlite Tech, Tech Mahindra
