New Page 1 Indian market may open flat and remain range-bound volatile, as mixed signals coming from the global market.
Headlines for the day
Mahindra Satyam to settle with Upaid - Business Line
Bajaj decide to rise out of scooter market - Business Line
Mahindra Opens new tractor plant in US - Business Line
Fortis in talks to buy Lanka hospital chain - Business Standard
Hindalco to raise Rs4,500 crore - Business Standard
Events for the day
Major corporate action:
Ex-date for interim dividend of Colgate Palmolive
Ex-date for bonus of Adani Enterprise in the ratio of 1:1
Ex-date for bonus of International Conveyors in the ratio of 1:1
Ex-date for stock split of International Conveyors from Rs10 per share to Re1 per share.
Ex-date for stock split of Jindal Saw from Rs10 per share to Rs2 per share.
Ex-date for stock split of Kwality Dairy India Ltd from Rs10 per share to Re1 per share.
Inflation number for primary articles.
Pre-market report
Global signals
On Wednesday, the European stocks closed lower, as market sentiment deteriorated after S&P cuts Spain outlook. At the end, FTSE 100 closed 0.37% lower at 5204.
The US markets rebounded on Wednesday after falling in two days in a row. Nasdaq 100 added 11 points and closed the day at 2184.
In today's trade, the Asian indices showing the mixed trend. As Indices like Nikkei, Straits Times & Kospi are trading in red territory. While Hang Seng & Shanghai Composite are trading marginally higher. And at the time of writing this report, SGX Nifty that opened higher by 15 points, erased its gains and trading marginally lower by 3 points.
Indian markets
The domestic indices are expected to open flat, remain volatile owing to the global market showing mixed cues.
Among the local indices, the Nifty could test the 5182-5200 range on the up side, while on the down side it could find support at 5050 and 5100. While the Sensex is likely to get support at 17000 and may face resistance at 17300.
Indian ADR's
Among the Indian ADRs trading on the US bourses, except HDFC Bank all the ADRs closed higher on Wednesday. HDFC Bank fell by 2.6%.
Commodity cues
In the commodity space, wherein the Crude oil prices recorded losses, with the Nymex light crude oil for January series fell by $1.92 to settle at $70.70 a barrel.
In the metals space, Comex Gold for February series fell by $22.40 to settle at $1121.00 to a troy ounce.
Daily trend of FII/MF investment in equities
On December 09, 2009, FIIs were the net buyers of the Indian Stocks in the tune of Rs950.00 crore (with the gross purchase of Rs2829.60 crore and gross sales of Rs1879.60 crore).
While the Domestic mutual funds, on December 07, 2009, were the net seller of the stocks in the tune of Rs358.00 crore (with gross purchase of Rs545.70 crore and gross sales of Rs903.70 crore).
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