Markets expect a weak start; RIL nos eyed

The Indian indices are expected to open last day of the week on a weak note on account of negative global cues. Reliance Industries’ results will be out today.

Headlines for the day:

Govt allows Rs5K cr overseas borrowing for airlines.
Mahindra Satyam to invest $240 mn globally on infrastructure.
KFA begins jet fuel import process.
Three SBI officials held for over Rs1 cr scam.
CBI raids BEML chief's residence.



Events for the day:

Results: Reliance Industries, Cairn India.

Indian Indices:

The Indian markets may begin the last day of the week on a negative note tracking negative signals from global markets and on account of SGX Nifty trading 35.50 points lower. The Indian indices will keenly watch the results of the top-notch companies to get some support.

Major companies scheduled to report quarterly results today include Reliance Industries and Cairn India.

The index heavyweight Reliance Industries Ltd (RIL) carries over 10% weightage in the Sensex. Its results are likely to influence trading sentiments, which is scheduled to be out today.

Global Indices:

Asian shares slipped on Friday (April 20, 2012), as disappointing US economic data stirred doubts about the strength of recovery. The Yen weakened after the Bank of Japan flagged the prospect of further monetary easing to support the struggling economy.

European shares fell on Thursday (April 19, 2012), after weaker-than-expected US data on business conditions and housing sales.

US Stocks closed mixed on Thursday, amid disappointing reports on home sales, manufacturing and jobless claims and growing concern over Europe's debt crisis.

Daily trend of FII/MF investment in equities:

The FIIs have been the net buyers Indian stocks to the tune of Rs282.90 crore on April 18, 2012.The domestic investors bought

Indian shares worth a net of Rs6.50 crore on April 18, 2012. The data is as per the SEBI website.

Commodity Cues:

Crude oil prices gained on Thursday, ahead of a closely watched Spanish bond auction, bouncing from a two-month low set the previous session, with some investors seeing recent sharp falls as a good buying opportunity.