Markets may see a positive start; IIP data eyed

The Indian markets are set for a higher opening tracking gains in the US and Asia. IIP data for September will remain in focus.

Headlines for the day:

Kingfisher hits air pocket again
Jyothy to push Henkel toiletries, personal care
Tata Motors launches revamped Sumo in Pune



Events for the day

IIP data for September 2011

Results: Adani Power, HDIL, Jet Airways, Lanco Infratech

Indian Indices:

Today’s opening is likely to be on a positive note following rebound in the US and Asian stocks. There are signs of progress in debt plagued Europe — a successful bond sale in Italy and the naming of a new leader in Greece. Cautiousness may remain on the back of ongoing uncertainty in Europe.

Most awaited IIP data for September 2011 will be out today and may keep the market volatile. Stock specific activity may also dominate the sentiments as bunch of results will be declared today. Other companies that will announce results are Britannia Industries, Educomp Solutions, Financial Technologies (India), Mundra Port and Special Economic Zone, Reliance Capital, Shree Renuka Sugars, Pipavav Defence and Offshore Engineering Company, Tata Chemicals and UTV Software Communications.

Daily trend of FII/MF investment in equities

The FIIs have bought Indian stocks worth a net of Rs503.40 crore on November 09, 2011. The domestic investors have sold Indian shares worth a net of Rs46.60 crore on November 08, 2011. The data is as per the SEBI website.

Global signals

The European shares closed lower on Thursday (November 10, 2011) in choppy trade with the focus firmly on prospects for a new Italian government.

The US Stocks bounced back on Thursday from the previous session's steep losses as investors latched into positive corporate and economic news, in the absence of a clear worsening in Europe's debt crisis.

The Asian shares, rebounded modestly on Friday (November 11, 2011) after brighter corporate news lifted the US stocks and debt-ladened Italy was able to fund itself at a bond auction. SGX Nifty was trading 14 points higher.

Commodity cues

Crude oil rebounded on Thursday, as investors saw some progress in Italy's efforts to solve its debt problems and the US data showed a slight improvement in the economy, beefing up appetite for risk.