Owing to the negative global cues, domestic markets may open lower and remain volatile ahead of crucial Railway budget.
Headlines for the day
Maruti Suzuki recalls 1 lakh A-stars with fuel tank problem - Business Line
REC follow-on offer makes it on institutional prop - Business Line
JK Tyre to invest Rs 1,600 crore in TN - Business Standard
Balaji Amines setting up hotel in Maharashtra - Business Standard
Life insurers report poor business in January - Business Standard
Events for the day
Major corporate action
Railway Budget to be announced today
Emmbi Polyarns to be list today
DB Realty to be list today
Ex-date for Stock Split from Rs10 to Rs5 of Aishwarya Telecom Ltd.
Ex-date for Dividend of Asian Hotels Ltd.
Result today: Mphasis Ltd.
Pre-market report
Global signals
The European stocks fell on Tuesday, as consumer confidence data in US and house price figures unexpectedly dipped. FTSE 100 closed 0.69% lower at 5315.09.
US market closed lower on Tuesday after a data show fall in consumer confidence. Dow Jones closed lower by 0.97%; Nasdaq closed lower by 1.28%.
In today's trade, All the Asian indices are trading in negative territory, except Shanghai Composite. At the time of writing of this report SGX Nifty trades 45 points lower.
Indian markets
Indian markets are set to open lower on the back of negative global market scenario. However in the view of upcoming railway & union budget, investors may remain cautious.
Among the local indices, the Nifty could test the 4900-4950 range on the up side, while on the down side it could find support at 4830 and 4730. While the Sensex is likely to get support at 15900 and may face resistance at 16400.
Indian ADR's
Among the Indian ADRs trading on the US bourses, all the ADRs closed in the red zone, except Patni Computers and Dr Reddys that closed higher. On other hand Rediff slides the most by 4.38% followed by Tata Communications that fell by 3.66%.
Commodity cues
In the commodity space, wherein the Crude oil prices recorded marginal loss, with the Nymex light crude oil for March series down by $1.45 to settle at $78.86 a barrel.
In the metals space, Comex Gold for April series declined by $10.10 to settle at $1103 to a troy ounce.
In the metals space, Comex Silver for March series declined by $0.34 to settle at $15.91 to a troy ounce.
Daily trend of FII/MF investment in equities
On February 23, 2010, FIIs were the net buyers of the Indian Stocks in the tune of Rs39.60 crore (with the gross purchase of Rs1538.20 crore and gross sales of Rs1498.60 crore).
While the Domestic mutual funds, on February 22, 2010, were the net buyers of the stocks in the tune of Rs88.90 crore (with gross purchase of Rs488.30 crore and gross sales of Rs399.40 crore).
