New Page 1 As negative signal comings from the global market, Indian markets may open lower and remain lower.
Headlines for the day
Hindustan Copper plans Rs1700 crore FPO - DNA Money
Era Infra Engineering to commission Nagpur plant in first quarter - DNA Money
Steel companies may raise prices in January - Business Standard
Chettinad Cement lines up Rs1700 crore - Business Standard
New trading timing to take effect only from January 4 - Business Line
Events for the day
Major corporate action:
Ex-date for dividend of Garware Marine Industries Ltd.
Ex-date for right issue of Infomedia 18 Ltd in the ratio 3:2.
Ex-date for amalgamation of Amrapali Developers India Ltd and Zora Pharma Ltd.
Pre-market report
Global signals
The European stocks take a breather on Thursday after five successive days gains and closed in red zone. FTSE 100 closed 1.93% lower at 5218.
The US markets closes negative as FedEx forecast lower profit. Nasdaq 100 down 27 points to closed at 2180.
In today's trade, all the Asian indices are opened lower and extend the losses in the early trading hours. At the time of writing this report, SGX Nifty trading lower by 10 points.
Indian markets
The domestic indices are expected to open lower and may remain lower due to the negative global cues.
Among the local indices, the Nifty could test the 5080-5120 range on the up side, while on the down side it could find support at 4980 and 5000. While the Sensex is likely to get support at 16750 and may face resistance at 17200.
Indian ADR's
Among the Indian ADRs trading on the US bourses, among gainers Rediff surged the most with gains with 3.58%. On other hand HDFC Bank fell the most with loss of 4.14%.
Commodity cues
In the commodity space, wherein the Crude oil prices reported losses, with the Nymex light crude oil for January series decline by $1.29 to settle at $71.37 a barrel.
In the metals space, Comex Gold for February series sheds $29.00 to settle at $1107.20 to a troy ounce.
Daily trend of FII/MF investment in equities
On December 17, 2009, FIIs were the net sellers of the Indian Stocks in the tune of Rs139.30 crore (with the gross purchase of Rs2215.10 crore and gross sales of Rs2354.40 crore).
While the Domestic mutual funds, on December 15, 2009, were the net seller of the stocks in the tune of Rs354.10 crore (with gross purchase of Rs554.10 crore and gross sales of Rs908.10 crore).
