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Pre-market: Markets expect a positive start

Thursday, October 20, 2011

October 21, 2011 | 8.30 AM

Markets expect a positive start
Tracking gains in the Asian stocks, the Indian markets are likely to open on a positive note. Caution may prevail ahead of Europe summit.
Headlines for the day
  • Tata Motors to raise $750 mn via ECBs
  • SBI hikes home loan tenure to 30 years
  • M&M promoters raise stake to 25%-plus
  • Siemens sees growth in low-cost products
 
Events for the day
  • Stock Split in blue circle services
  • Results: Results: L&T, JSW Steel, Godrej Consumer Products.

 

 STOCK TO WATCH
n SBIN n M&M
n SIEMENS n LT
n IDEA n ACC

 FOREX

Currency

Level

USD to INR

49.80

GBP to INR

78.76

Euro to INR

68.66

JPY to INR

0.65

INDIAN INDICES

Indices

Support Resistance
Sensex

16533

17382

Nifty

4970

5225

The Indian markets are expected to remain cautious ahead of Europe summit and signs of progress in resolving the region's debt crisis will be awaited. Today's opening is likely to be on a positive note tracking gains in the Asian equities.

Other companies scheduled to report results today include Asian Paints, Indiabulls Financial Services, Gujarat Fluorochemicals, Idea Cellular and Federal Bank. Markets may also look for results for further direction.
 

FII/MF ACTIVITIES

As on 20-10-2011

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

1776.20

423.40

Gross sale

1758.80

432.90

Net investment

17.30

(9.40)

*As on 19-10-2011

Daily trend of FII/MF investment in equities
The FIIs have bought Indian stocks worth a net of Rs17.30 crore on October 20, 2011. The domestic investors have sold Indian shares worth a net of Rs9.40 crore on October 19, 2011. The data is as per the SEBI website.

GLOBAL INDICES

The European shares hit a two-week closing low in a choppy session on Thursday (October 20, 2011) as doubts whether a European Union summit planned for Sunday will go ahead overshadowed news that the region's rescue fund will be able to buy bonds on the secondary market.

The US stocks ended with modest gains on Thursday, shifting back and forth on incremental developments in Europe where leaders sought to reassure investors that a solution to the debt crisis would come soon.

The Asian shares inched up on Friday (October 21, 2011), but markets largely stayed within range, as investors awaited a weekend meeting of European leaders for signs of progress in resolving the region's debt crisis. SGX Nifty was trading 4 points higher.

Commodity cues
Crude prices rose on Thursday, after a joint statement from France and Germany eased concerns about deep divisions hampering efforts to resolve Europe's debt problems.

 COMMODITIES

Commodity

Level ($)

Chg ($)

Gold

1612

(34.10)

Silver

30.28

(0.99)

Crude

85.30

(0.81)


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