New Page 1 As the global indicators turn positive heavily with the hopes on the global recovery increase, domestic indices may open gap-up.
Headlines for the day
Jubilant Organosys, Lilly extend R&D alliance - DNA Money
Mahindra Satyam expands Malaysia operations- Business Line
Cement despatches rise in November - Business Line
Bharati Shipyard revises open offer price for Great Offshore - Business Standard
Car sales see record November surge - Business Standard
Events for the day
Major corporate action:
Pre-market report
Global signals
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The European stocks records heavy gains of over 2.5% each on Tuesday as the banking stocks rebounds, while the macro economic data further boosted sentiments.
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As the manufacturing and housing data reinforces hopes of sustainable recovery and the weakening dollar spurs the commodity stocks, the major US indices sees the highest close in the 14-months. Dow closes 1.2% higher.
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Yet again the Nikkei 225 trades in the red with marginal losses of 0.17%.However even today the rest of the major Asian indices were trading in the positive zone with gains in the range of 0.55%-1.45% each. At the time of writing this report, SGX Nifty was trading 17 points higher.
Indian markets
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Looking at such strong and positive cues from the global front, Indian stocks may open positive. However, as the day progresses, the domestic indices will follow the Asian and European market movements for further direction.
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Among the local indices, the Nifty could test the 5150-5182 range on the up side, while on the down side it could find support at 5050 and 5000. The Sensex is likely to get support at 16900 and may face resistance at 17400.
Indian ADR's
Commodity cues
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In the metals space, the yellow metal closes above $1200 level, the Comex Gold for February 2010 series surged heavily by $17.90 to settle at $1200.20 a troy ounce, while Comex Silver for December series surges by $0.68 to settle at $19.20 to a troy ounce.
Daily trend of FII/MF investment in equities
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On December 01, 2009, FIIs were the net buyers of the Indian Stocks in the tune of Rs707.70 crore (with the gross purchase of Rs2983.90 crore and gross sales of Rs2276.20 crore).
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Even the Domestic mutual funds mutual funds, on November 30, 2009, were the net buyers of the stocks in the tune of Rs374.90 crore (with gross purchase of Rs917.00 crore and gross sales of Rs542.10 crore).
