Markets may witness a weak start

The Indian markets are expected to open on a negative note as the world markets remain nervous after Moody's said a bailout of Ireland may pose a 'credit negative' for the country

Headlines for the day:

Tata Chemicals enters customised fertiliser biz

Godrej talking to Israeli firms for dairy foray

Jubilant Energy plans $85-million share sale



Events for the day:

Major corporate action

Nexxoft Infotel board to consider stock split
Ex-date for dividend of Shri Lakshmi Cot
For more events and news, log on to Sharekhan.com

Pre-market report

Indian indices

Buying across the globe and foreign institutional investors (FIIs) inflows led the Indian markets to rebound in the previous session. However, Indian markets may fail to sustain the rally. The world indices are down, which may lead the markets to a gap-down opening in today's session.

The investors sentiment may remain cautious and trading may remain sideways on concern that rating agency Moody's said the rescue package of Ireland may be negative. This may lead to the further decline in the near term.

The Indian indices are likely to remain choppy and rangebound ahead of the F&O expiry.

Daily trend of FII/MF investment in equities

The FIIs have bought Indian stocks worth a net of Rs1,443.40 crore on November 22, 2010 as against net sell of Rs218.80 crore on November 19, 2010. The domestic investors have sold Indian shares worth a net of Rs77.10 crore on November 15, 2010.

Global signals

European markets fell on Monday (November 22, 2010), led by the banking stocks on worries that other euro zone peripheral countries will need financial assistance packages similar to that of Ireland.

In US, banking shares weighed on the market sentiments on Monday as Europe's debt crisis and fears of an insider trading probe in the United States sapped buying interest for most of the session.

Asian market were trading down amid speculation that Europe's sovereign-debt crisis may spread after Moody's Investors Service said a bailout of Ireland may pose a 'credit negative' for the country. SGX Nifty was trading 34.5 points lower, pointing towards a negative opening on the Indian markets. The Japanese markets are shut for a holiday.

Commodity cues

Crude oil prices fell on Monday in choppy trading. This decline was led by a stronger dollar that bounced as optimism over a debt bailout for Ireland. The crude oil futures for December 2010 dipped by $0.29, to settle at $81.74 a barrel.