Positive opening likely; IIP data eyed

The Indian markets are expected to take a breather and start the session on a positive note tracking bullish global sentiments. IIP data will be in focus

Headlines for the day

Government puts SAIL FPO on fast track

PM drives govt's effort to find a price-rise fix

Sugar export put on hold; EGoM to take decision



Events for the day

India's IIP data to be announced today
Midvalley Entertainment IPO closes today
Results: Coromandel International
For more events and news, log on to Sharekhan.com

Indian indices

Today, it appears to be a good day for the Indian markets, as the sentiments across the globe have turned bullish. The world markets rallied on optimism about stronger corporate profits and easing eurozone debt fears after Portugal denied it needed a bailout.

After witnessing losses for the last few sessions, the Indian markets are likely to take a breather and begin the session on a positive note. All eyes will be on the index of industrial production (IIP) data for the month of November 2010, which will be announced later today. Industrial output soared 10.8% in October 2010. If the numbers signal growth, the markets will get something to cheer. The domestic triggers may set the tone for the markets in the near-term.

Global indices

The European shares rose on Tuesday (January 11, 2011) as a strong start to the U.S. earnings season boosted optimism about upcoming company results, and reassuring comments from Portugal soothed nerves over the sovereign debt crisis.

Energy shares helped the Dow and S&P 500 end a three-day losing streak on Tuesday, even as investors worried rising fuel costs will undercut economic growth.

The major Asian markets were trading in the positive territory tracking overnight Wall Street gains. SGX Nifty was trading 4 points higher, suggesting to have a flat to positive opening on the Indian bourses.

Daily trend of FII/MF investment in equities

The FIIs have sold Indian stocks worth a net of Rs1,088.20 crore on January 11, 2011. The local investors have bought Indian shares worth a net of Rs301 crore on January 10, 2011.

Commodity cues

The US oil prices jumped 2% to top $91 a barrel on Tuesday as the shutdown of two North Sea oilfields stoked supply concerns for markets already on edge from the closure of Alaska's main crude pipeline.