Markets to get a soft start on mixed Asian cues

Headlines for the day:

Cancel 69 licences of 6 operators: TRAI

Garments industry strike today

Hindustan Motors to enter small commercial vehicle segment



Events for the day:

Major corporate action

Ex-date for interim dividend of Dynamatic Technologies
For more events and news, log on to Sharekhan.com

Pre-market report

Indian indices

Global weakness persisted on Indian indices, which led the markets to decline and witness volatility. However, the last session closed on a higher note.

Today, the Indian markets expect to have a soft start following the mixed Asian cues and Singapore Nifty trading lower. However, supportive cues from US and Europe market may lift the market sentiments.

Telecom stocks may remain in focus, on reports that the Telecom Regulatory Authority of India (Trai) has recommended the cancellation of 69 of the 127 unified access service (UAS) licences issued by the government since 2006 for the failure by operators to meet their roll-out obligations or providing very poor coverage.

Daily trend of FII/MF investment in equities

The FIIs have sold Indian stocks worth a net of Rs16.80 crore on November 18, 2010 as against net buy of Rs526.40 crore on November 16, 2010. The domestic investors have sold Indian shares worth a net of Rs77.10 crore on November 15, 2010.

Global signals

European shares rose on Thursday (November 18, 2010) on expectation that Ireland's troubled banking sector would receive help from the IMF and EU, while carmakers were boosted after General Motors surged in its return to the US market.

US markets jumped on Thursday on expectations of a resolution of Ireland's banking crisis, but the S&P 500's inability to break through resistance suggests stocks could be in a tight range through the end of the year.

Asian markets were trading mixed. Nikkei index gained nearly 1% following the overnight Wall Street. SGX Nifty was trading 13.5 points lower, suggesting towards a soft start on the Indian indices.

Commodity cues

Crude oil prices closed nearly 2% higher on Thursday after four days of losses as worries over Ireland's debt crisis eased. The crude oil futures for December 2010 rose by $1.75, to settle at $81.85 a barrel.