Market may resume weak

Headlines for the day

GMR Infra set to refinance Rs 3,500-cr debt - Business Standard

IOCL seeks state support to expedite Paradeep refinery project - Business Standard

JSW expects nod for 4 iron ore mines in India - Live Mint

IVRCL cuts topline goal on Andhra Pradesh stir - DNA Money

CESC lines up 7,500 mw capacity addition - DNA Money

Events for the day

Major corporate action:

Earnings : GUJAMBUJA & ACC

Economic Events : Weekly Inflation to be out today

Corporate Actions : CROMPGREAV,2ND INT DIV-RS.1.40 PR SH,Ex Date: Feb 4 2010,Rcd Dt: Feb 5 2010
DCHL,3RD INT DIV-RE.1/- PR SHR,Ex Date: Feb 4 2010,Rcd Dt: Feb 5 2010
DYNAMATECH,2ND INT DIV-RS.2.50 PR SH,Ex Date: Feb 4 2010,Rcd Dt: Feb 5 2010
EDUCOMP,INT DIV-RE.1/- PER SHARE,Ex Date: Feb 4 2010,Rcd Dt: Feb 6 2010
EIDPARRY,INT DIV-RS.6/- PER SHARE,Ex Date: Feb 4 2010,Rcd Dt: Feb 5 2010
KCP,3RD INT DIV-RS.2.50 PR SH,Ex Date: Feb 4 2010,Rcd Dt: Feb 5 2010
KEMROCK,INT DIV-RE.1/- PER SHARE,Ex Date: Feb 4 2010,Rcd Dt: Feb 5 2010
NILKAMAL,INT DIV-RS.2/- PER SHARE,Ex Date: Feb 4 2010,Rcd Dt: Feb 5 2010
NMDC,INT DIV-RE.0.75 PER SHARE,Ex Date: Feb 4 2010,Rcd Dt: Feb 5 2010
PNB,INT DIV-RS.10/- PER SHARE,Ex Date: Feb 4 2010,Rcd Dt: Feb 6 2010
POLARIS,INT DIV-RS.1.75 PER SHARE,Ex Date: Feb 4 2010,Rcd Dt: Feb 5 2010
PRECWIRE,INT DIV-RS.2.40 PER SHARE,Ex Date: Feb 4 2010,Rcd Dt: Feb 5 2010
VIPIND,INT DIV-RS.2/- PER SHARE,Ex Date: Feb 4 2010,Rcd Dt: Feb 5 2010.

Pre-market report

Global signals

European shares fell on Wednesday, snapping a three-day rally as investors worried about the economic health of the euro zone's peripheral countries, with banks falling and miners tracking metal prices lower.

U.S. stocks mostly fell on Wednesday as Pfizer's disappointing outlook weighed on the health sector, and President Obama's pledge to complete banking and healthcare reform revived fears of increased regulation.

All the Asian indces are trading in negative territory with the marginal loss. At the time of writing this report, SGX Nifty is trading lower by 25 points.

Indian markets

The market is monitoring the international markets for further direction and the weakness across the global markets may drag down the local indices. The market may open in negative territory following the slump in Asian markets in morning trades coupled with the worries of continues offloading of domestic equities by the FIIs. However, after posting significant gains in last sessions, buying interest may continue on the back of firm trend.

Indian ADR's

Indian floats had a firm outing on the US bourses. ICICI Bank, Rediff, Wipro and Satyam gained around 1-3% each while VSNL, Dr Reddy, MTNL, Satyam and Tata Motors dropped marginally.

Commodity cues

In the commodity space, wherein the Crude oil prices recorded marginal loss, with the Nymex light crude oil for March series decline by $0.19 to settle at $76.79 a barrel.

In the metals space, Comex Gold for April series declines by $5.60 to settle at $1112.40 to a troy ounce.

In the metals space, Comex Silver for March series declines by $0.16 to settle at $16.58 to a troy ounce.

Daily trend of FII/MF investment in equities

On February 02, 2010, FIIs were the net sellers of the Indian Stocks in the tune of Rs312 crore (with the gross purchase of Rs2487 crore and gross sales of Rs2799 crore).

While the Domestic mutual funds, on February 02, 2010, were the net sellers of the stocks in the tune of Rs247 crore (with gross purchase of Rs418 crore and gross sales of Rs665 crore).