Sensex may open higher

Headlines for the day

Zain board agrees to $10.7 billion Bharti bid for operations in Africa - DNA

SEBI wants breather on 25% public holding norm - Business Standard

Jaihind Projects bags Rs1100 crore contract - Business Standard

CLP Power to invest $800 mn in renewable energy by December - Business Standard

Dahej SEZ aims at exports worth Rs70 crore for Fiscal 2009-10 - Business Standard

Events for the day

Major corporate action:

Ex-date for interim dividend of India Motor Parts & Accessories

Vascon Engineers Ltd to list today

Syncom Healthcare Ltd to list today

Pre-market report

Global signals

On Friday, European stocks end its four-day winning streak and closed lower after china raise bank’s reserve requirement. FTSE 100 closed 0.37% lower at 5142.

In US markets, Dow Jones closed lower by 0.44% while Nasdaq closed 0.28% higher.

In today's trade, all the Asian indices are trading lower except Shanghai composite. At the time of writing of this report, SGX Nifty trades 14 points higher.

Indian markets

Domestic market may open higher on the back of better than expected IIP numbers for December and mixed overseas markets.

Among the local indices, the Nifty could test the 4850-4900 range on the up side, while on the down side it could find support at 4750 and 4800. While the Sensex is likely to get support at 15700 and may face resistance at 16400.

Indian ADR's

Among the Indian ADRs trading on the US bourses, Satyam surged the most with gains of 0.80%, on other hand MTNL fell the most with loss of 0.95%.

Commodity cues

In the commodity space, wherein the Crude oil prices recorded marginal gain, with the Nymex light crude oil for March series rose by $0.08 to settle at $74.21 a barrel.

In the metals space, Comex Gold for April series down by $4.50 to settle at $1090.20 to a troy ounce.

In the metals space, Comex Silver for March series down by $0.18 to settle at $15.41 to a troy ounce.

Daily trend of FII/MF investment in equities

On February 11, 2010, FIIs were the net sellers of the Indian Stocks in the tune of Rs23.60 crore (with the gross purchase of Rs2376.80 crore and gross sales of Rs2400.40 crore).

While the Domestic mutual funds, on February 10, 2010, were the net buyers of the stocks in the tune of Rs267.10 crore (with gross purchase of Rs761.50 crore and gross sales of Rs494.50 crore).