Indian indices may open flat owing to mixed global cues, as indices may swing either ways as Union Budget to be announced later on the day.
Headlines for the day
European bank lends JLR Rs2415 crore - Business Standard
Reliance Cap raises stake in Fame by 1.70% - Business Standard
DLF converts Mumbai mall project into residential one - Business Standard
Nalco draws-up Rs50,000 crore expansion plans - DNA Money
ICICI Bank hikes interest rates on some deposits - DNA Money
Events for the day
Major corporate action
Ex-date for Stock Split from Rs10/- to Re1/- of Basant Agro Tech (India) Ltd.
Ex-date for Stock Split from Rs10/- to Re1/- of JMDE Packaging & Realties Ltd.
Ex-date for Bonus 1:1of JMDE Packaging & Realties Ltd.
Results today: ABB Ltd. and Tata Motors
Union Budget to be announced today
Pre-market report
Global signals
The European stocks closed red on Thursday, owing to poor economic numbers and persistent concerns over Greece's ability to manage its debt burden. FTSE 100 closed 1.21% lower at 5278.23.
US stocks closed lower on Thursday after weak employment and durable goods data. Dow Jones closed lower by 0.51%; Nasdaq closed marginally lower by 0.08%.
In today's trade, all the Asian indices are trading in positive territory, except Straits Times and Jakarta Composite. At the time of writing of this report SGX Nifty trades 2 points lower.
Indian markets
Indian market may open flat on the back of mixed global cues. Markets are likely to witness volatility as Finance Minister Pranab Mukherjee presents the Union Budget for 2010-11. Investors may remain cautious ahead of upcoming budget.
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 4800 and 4750. While the Sensex is likely to get support at 15600 and may face resistance at 16800.
Indian ADR's
Among the Indian ADRs trading on the US bourses, Rediff gains the most by 2.5% followed by Wipra that grew by 0.95%. However, MTNL and Patni Computers slide the most by 1.64% and 1.56% respectively.
Commodity cues
In the commodity space, wherein the Crude oil prices recorded marginal gain, with the Nymex light crude oil for March series up by $0.41 to settle at $78.58 a barrel.
In the metals space, Comex Gold for April series rises by $11.20 to settle at $1108.40 to a troy ounce.
In the metals space, Comex Silver for March series declined by $0.02 to settle at $15.94 to a troy ounce.
Daily trend of FII/MF investment in equities
On February 25, 2010, FIIs were the net buyers of the Indian Stocks in the tune of Rs615.80 crore (with the gross purchase of Rs2402.70 crore and gross sales of Rs1786.90 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).
