New Page 1 The market is likely to display positive trend on the back of strong Asian markets in morning trades and overnight gains in the US indices.
Headlines for the day
National Thermal Power Corp to set up plant in North East - DNA Money
Bharti Airtel plans to retail satellite broadband - DNA Money
Lanco Infratech eyes top private power producer spot - DNA Money
SAIL Q3 net profit doubles on higher sales, lower input costs - Business Line
Megasoft mulls $25 mn buyout in Latam, Europe - Business Standard
Events for the day
Major corporate action:
Bonus, Dividend, Results of Crompton Greaves Ltd
Bonus and Results of Pidilite Industries Ltd
Todays Results: OBC, UNIPHOS, CENTRALBK, COLGATE, ABANLOYD, OPTOCIRC, CHENNPETRO, MARICO, CIPLA, TATATEA, TORNTPOWER CAIRN, MADCEM, TISCO, MUNDRAPORT, INVRCONS, APIL, BPCL, JINDSTL, GTLINFRA, JAICORP, FEDRLBNK, BOI, IRB, GMRINFRA, KOUTONS , APOLLOHP, CANBNK, CROMPTON, IOB, JAINIRRG.
Pre-market report
Global signals
European shares fell on Wednesday, with banks the main drag following poor quarterly results from Spanish lender BBVA and investor
concerns over Greece's fiscal problems.
U.S. stocks rose on Wednesday after the U.S. Federal Reserve said it will keep interest rates near zero and ahead of President Barack. Obama's State of the Union address tonight. But the Nasdaq got a late surge from a gain of almost 1% in the shares of Apple Inc after the iPad's debut.
In today's trade, All the Asian indices trading higher, At the time of writing this report SGX Nifty trading higher by 40 points.
Indian markets
Overnight gains in the US markets and a sharp rise in several Asian indices in the ongoing trading session may help the domestic indices rebound from yesterday's losses. However, the market may exhibit caution owing to lack of clarity, higher volatility and January contract expiry.
Among the indices, the Nifty could test higher levels at 4950 and 5015, and has a supports at 4800. The Sensex has a likely support at 16210 and may face resistance at 16580.
Indian ADR's
Among the Indian ADRs trading on the US bourses, among gainers, Rediff surged the most with gain of 3.65%, Dr Reddy and Infosys
gained marginally. On other hand Tata Motors fell the most with loss of 5.45%, Patni Computers, VSNL, Satyam, Wipro, HDFC Bank and MTNL closed with the loss of 2-4% each.
Commodity cues
In the commodity space, wherein the Crude oil prices recorded marginal decline, with the Nymex light crude oil for March series decline by $11 to settle at $73.56 a barrel.
In the metals space, Comex Gold for March series down by $13 to settle at $1086.50 to a troy ounce.
In the metals space, Comex Silver for March series rise down $0.44 to settle at $16.43 to a troy ounce.
Daily trend of FII/MF investment in equities
On January 27, 2010, FIIs were the net sellers of the Indian Stocks in the tune of Rs900 crore (with the gross purchase of Rs1628.70
crore and gross sales of Rs2529 crore).
While the Domestic mutual funds, on January 27, 2010, were the net seller of the stocks in the tune of Rs158 crore (with gross
purchase of Rs727 crore and gross sales of Rs884 crore).
