Markets expect a strong start

Headlines for the day:

Fortis plans to list SRL in 2011

IRDA clears 51 unit-linked plans

Indian Bank may sell Rs900 crore bad loans to ARC



Events for the day:

Major corporate action

India’s weekly inflation to be announced today, to view the update on this, kindly log on to Sharekhan.com at 12 pm
Parenteral Drugs board to consider bonus issue
Ex-date for final dividend of Gail India

Updates on global events

US Challenger Job Cuts fell to 54.5% for the year ended August 2010 as compared to the fell of 57.2% in the previous year

US ISM Manufacturing rose to 56.3 in August from 55.5 in July

Pre-market report

Global signals

The European shares registered their biggest daily gain in more than three months on Wednesday (September 01, 2010), on strong manufacturing data from the United States and China, the world's two biggest economies.

The Wall Street posted its best day in eight weeks on Wednesday as investor mood brightened after better-than-expected factory data from the United States and China.

The Asian markets were trading higher after an overnight Wall Street gain. Nikkei and Hang Seng posted more than 1% gain. SGX Nifty was trading 31 points up, suggesting towards a firm start on the Indian bourses.

Indian indices

The domestic markets started the month of September on a stellar note as markets rose the most in 10 weeks.

The world stocks surged as US markets closed nearly 3% high, setting the floor for the Asian markets to trade higher. Tracking the positive global markets, the Indian bourses are expected to have a gap-up opening.

Going in to the session, the markets are expected to remain volatile as weekly inflation readings are going to be announced later today.

The auto and cement shares may remain in limelight as auto sales and cement dispatches numbers will flow even today.

Commodity cues

After ending August in a slump, oil prices surged into September, rallying nearly 3% on Wednesday as the economic outlook brightened, as the crude oil futures for October delivery rose by $1.99, to settle at $73.91 a barrel.

Daily trend of FII/MF investment in equities

The foreign institutional investors (FIIs) have been positive on the India growth as they bought Indian equities worth a net of Rs538.40 crore on September 01, 2010, as compared to net buyers of Rs272.70 crore on August 31, 2010.