Indian markets are set to open higher as strong and positive signals that are coming from the global front.
Headlines for the day
Bangladesh telecom regulator clears Bharti Warid deal - Business Line
Uttam Galva hikes price by Rs3000/tonne - Business Line
Maruti eyes expansion to defend 50% share - Business Standard
Opto Circuits gets CE nod for drug sale - Business Standard
Sobha Developers to launch projects worth Rs2,800 crore - Business Standard
Events for the day
Major corporate action:
Listing of equity shares of DB Corp Ltd.
Pre-market report
Global signals
The European stocks showed mixed trend on Tuesday, as Dax & CAC 40 closed lower. Whereas FTSE 100 closed 0.40% higher at 5522.
On Tuesday, the US markets closed almost flat after Pending home sales drop more than expected. On other hand Factory orders increase for third months in roe. Nasdaq closed at 2309, 0.29 points higher.
In today's trade, all the Asian indices are trading higher. At the time of writing this report, SGX Nifty is trading 19 points higher.
Indian markets
On the back of positive & strong signals that are coming from the global markets, the domestic indices are expected to open higher and may continue to rise higher.
Among the local indices, the Nifty could test the 5300-5325 range on the up side, while on the down side it could find support at 5200 and 5250. While the Sensex is likely to get support at 17500 and may face resistance at 17800.
Indian ADR's
Indian ADRs trading on the US bourses, all the ADRs closed higher except Tata Motors that fell by 1%. Among gainers MTNL surged the most with gains of 10.61%.
Commodity cues
In the commodity space, wherein the Crude oil prices recorded marginal gain, with the Nymex light crude oil for February series rose by $0.26 to settle at $81.77 a barrel.
In the metals space, Comex Gold for February series rise by $0.20 to settle at $1118.50 to a troy ounce.
In the metals space, Comex Silver for March series rise by $0.34 to settle at $17.80 to a troy ounce.
Daily trend of FII/MF investment in equities
On January 05, 2010, FIIs were the net buyers of the Indian Stocks in the tune of Rs701.60 crore (with the gross purchase of Rs1621.60 crore and gross sales of Rs920.00 crore).
While the Domestic mutual funds, on January 04, 2010, were the net seller of the stocks in the tune of Rs192.20 crore (with gross purchase of Rs617.60 crore and gross sales of Rs809.70 crore).
