Select Your Language

Morning View : Markets head towards a cautious start

The Indian markets are likely to start the trade on a cautious note tracking negative Asian cues. Midvalley Entertainment IPO opens today.

Headlines for the day

           PowerGrid plans Rs10,000-crore bond issue in 2011-12
           FinMin sees further delay in GST launch
           Fortis wants to expand in West, S-E Asia

Events for the day

           Midvalley Entertainment IPO opens today
           Ex-date for stock split of Sujana Towers
Indian Indices

The first week of the year was disappointing for the Indian markets. The overall mood of the market is nervous with a string of negative cues, including rate hike fears in view of rising inflation and widening current account deficit. The lacklustre markets may get some direction from the third quarter earnings of Infosys Technologies, which will mark the beginning of the result season on January 13, 2011.

Today the start on the Dalal Street is expected to be cautious tracking negative Asian indices. The markets may witness some global pressure during the day. The foreign institutional investors (FIIs) are withdrawing the money, which may also have some impact on the markets.

Daily trend of FII/MF investment in equities

The FIIs have sold Indian shares worth a net of Rs213.80 crore on January 07, 2011. The domestic investors have sold Indian shares worth a net of Rs382.90 crore on January 06, 2011.

Global Indices

European stocks fell slightly on Friday (January 07, 2010) as worries about the euro zone intensified ahead of debt auctions next week, and U.S. data showed far fewer jobs were created in December than forecast.

US stocks fell on Friday after a court ruling in a key foreclosure case prompted investors to pull out of bank stocks, adding to weakness after a lackluster jobs report.

The Asian markets were trading lower. Japan’s Nikkei index is shut today. SGX Nifty was trading 8.5 points higher, suggesting to have a cautious start on the Indian bourses.