New Page 1 On the back of weak global indices, Market may open lower and remain lower.
Headlines for the day
Setco Automotive eyes buys in Europe, US - Business Line
Visa Steel applies for mining leases in Orissa, Chattisgarh - Business Line
Thermax bags order from Orissa company - Business Line
3G auctions to be on schedule, says EGoM - Business Standard
Infosys Consulting eyes US buy - Business Standard
Events for the day
Major corporate action:
Ex-date for the interim dividend of Greaves Cotton Ltd
Pre-market report
Global signals
The European stocks opened the Wednesday lower and remain lower side through out the day. At the end, FTSE 100 closed 1.39% lower at 5268.
While the US markets second successive day closed in red zone. Nasdaq 100 shed the 36 points and closed the day at 2157.
In today's trade, the Asian indices showing the mixed trend in the early trading hours. Indices like Shanghai Composite, Nikkei 225 & Hang Seng all trading in red territory. While Jakarta Composite & Straits Times trading with gains. And at the time of writing this report, SGX Nifty that opened marginally higher, shed his gain and was trading lower by 27 points.
Indian markets
The domestic indices are expected to open lower, remain range bound and volatile owing to the Mixed Asian cues & weak US Markets.
Among the local indices, the Nifty could test the 5000-5050 range on the up side, while on the down side it could find support at 4950 and 4920. While the Sensex is likely to get support at 16600 and may face resistance at 17300.
Indian ADR's
Among the Indian ADRs trading on the US bourses, only Wipro & Rediff managed to closed in green. While rest all of the Indian ADR closed in the Red wherein MTNL slides the most & fell 6.04%.
Commodity cues
In the commodity space, wherein the Crude oil prices recorded loss, with the Nymex light crude oil for December series fell by $2.12 to settle at $77.45 a barrel.
In the metals space, Comex Gold for December series surges $1.00 to settle at $1141.90 to a troy ounce.
Daily trend of FII/MF investment in equities
On November 19, 2009, FIIs were the net buyers of the Indian Stocks in the tune of Rs522.40 crore (with the gross purchase of Rs2586.00 crore and gross sales of Rs2063.70 crore).
While the Domestic mutual funds, on November 18, 2009, were the net Seller of the stocks in the tune of Rs300.70 crore (with gross purchase of Rs584.30 crore and gross sales of Rs885.00 crore).
