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Pre-market: Markets may begin in green

Sunday, July 3, 2011

July 04, 2011 | 8.30 AM

Markets may begin in green
The Indian markets may bounce back after a sharp decline seen in the previous session on the back of supportive global cues.
Headlines for the day
  • Govt hints at sugar decontrol this week
  • Conditions for Cairn deal to cost govt Rs5,000 crore
  • JSPL keen to set up captive port in south Orissa
Events for the day
  • Results: Essar Ports, Hit Kit Global Solutions
  • Ex-date for stock split of Le Waterina Resorts & Hotels
  • Ex-date for dividend of LIC Housing Finance, Tata Steel
  • For more events and news, log on to Sharekhan.com

 

 STOCK TO WATCH
n ABAN n HINDPETRO
nDHAMPURSUG n RELIANCE
n JINDALSTEL n ONGC

 FOREX

Currency

Level

USD to INR

44.46

GBP to INR

71.43

Euro to INR

64.68

JYP to INR

0.55

INDIAN INDICES

Indices

Support Resistance
Sensex

18570

18953

Nifty

5530

5720

Today the global picture looks good, which may lead the Indian markets to begin the session on a higher note. The markets are likely to continue its gaining spree this week on the back of confidence of foreign funds in the Indian stock market coupled with decline in crude oil prices.

Corporate earning season is going to start and it is expected to further add gains to the market. However, with the government hiking fuel prices, inflation is likely to remain on the higher side in the near future.

FII/MF ACTIVITIES

As on 30-06-2011

FII
(Rs cr)
MF*
(Rs cr)
Gross purchase

3107.40

570.50

Gross sale

2335.60

653.90

Net investment

771.80

(83.40)

*As on 27-06-2011

Daily trend of FII/MF investment in equities
The FIIs have bought Indian stocks worth a net of Rs771.80 crore on June 30, 2011 as compared to the net buy of Rs1016.10 crore on June 29, 2011. The domestic investors have bought Indian shares worth a net of Rs134.50 crore on June 29, 2011.

GLOBAL INDICES

The European markets steadied on Friday (July 01, 2011) after a four-day rally, as worries about Greece's debt crisis receded, and boosted by strong US economic data.

The US markets started July with a bang on Friday with Wall Street scoring its best week in two years on strong manufacturing data that eased concerns about slowing growth.

The Asian markets were trading higher on Monday after solid gains on the Wall Street. SGX Nifty was trading 49.5 points higher, pointing towards a higher start on the Dalal Street.

Commodity cues
Crude oil prices fell on Friday on signs of slower growth in China and weaker US consumer sentiment, offsetting a supportive report showing an improving manufacturing sector in the United States.

 COMMODITIES

Commodity

Level ($)

Chg ($)

Gold

1482.60

-20.20

Silver

33.70

8.70

Crude

94.94

-0.48

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