Pre-market: Markets may extend its rally

 

. Markets may extend its rally Owing to the positive signals that are coming from the global front, domestic markets may rise higher Headlines for the day BHEL Plans locomotive JV with Siemens, Alstom - DNA Money Pantaloon Retail to spend Rs400 crore on expansion - DNA Money Survey shows jobs are back, direct hirings on the rise - Business Line ICICI Bank may sell 3i Info stake to US PE firm - Business Standard Usha Martin InfoTech okays capital restructuring - Business Standard Events for the day Major corporate action:  Ex-date for dividend of Salzer Electronics Ltd. Ex-date for interim dividend of Gail India Ltd. Weekly inflation numbers Pre-market report Global signals The European stocks closed higher on Wednesday as banking stock rose. FTSE 100 closed 0.82% higher at 5372.  On Wednesday, the US markets that opened strong, slips after sales of newly builtUS Single family homes fell to their lowest level in seven months. At the end Nasdaq closed at 2270, 17 points higher. In today's trade, all the Asian indices are trading higher except for Straits Times that is trading marginally lower by 0.12%. At the time of writing this report, SGX Nifty is trading 10 points higher.  Indian markets Following the positive cues from the global market, domestic markets may extend its gaininig streak in todays trade.  Among the local indices, the Nifty could test the 5182-5200 range on the up side, while on the down side it could find support at 5050 and 5100. While the Sensex is likely to get support at 17000 and may face resistance at 17394. Indian ADR's Indian ADRs trading on the US bourses, all the ADRs able to closed higher except Satyam & Dr. Reddy. Among gainers HDFC Bank surged the most with gain of 2.96%.  Commodity cues In the commodity space, wherein the Crude oil prices recorded significant gains, with the Nymex light crude oil for February series surged by $2.27 to settle at $76.67 a barrel. In the metals space, Comex Gold for February series rose $7.80 to settle at $1094.50 to a troy ounce. Daily trend of FII/MF investment in equities On December 2, 2009, FIIs were the net Buyers of the Indian Stocks in the tune of Rs224.90 crore (with the gross purchase of Rs1410.80 crore and gross sales of Rs1185.80 crore). While the Domestic mutual funds, on December 21, 2009, were the net seller of the stocks in the tune of Rs174.00 crore (with gross purchase of Rs415.10 crore and gross sales of Rs589.10 crore).  INDICES SNAPSHOT ASIAN INDICES at 09:20 IST on 24/12/2009 Index Level Change(pts) Change(%) Nikkei 10511.28 133.25 1.28 Hang Seng 21524.92 196.18 0.92 Kospi Index 1682.13 20.78 1.25 Straits Times 2839.56 -2.00 -0.07 Jakarta Composite 2474.88 7.25 0.29 EUROPEAN INDICES at close on 23/12/2009 FTSE 100 5372.38 43.72 0.82 CAC 40 Index 3910.75 12.37 0.32 Dax Index 5957.44 11.75 0.20 US INDICES at close on 23/12/2009 Dow Jones 10466.44 1.51 0.01 Nasdaq 2269.64 16.97 0.75	PRE-MARKET COMMENTARY 24/12/2009| Market round-up, 9:45 IST
	STOCK TO WATCH TODAY RIL BHEL ICICIBANK INFOSYS TISCO   INDIAN ADRs Company Last Close %Change Infosys 55.61 2.13 Satyam 4.85 -0.61 Wipro 22.71 3.60 Dr.Reddy's 25.52 -2.18 Tata Motors 16.13 2.74 ICICI Bank 36.90 2.19 HDFC Bank 130.20 2.96 MTNL 3.09 1.31 VSNL (TCL)* 14.66 0.89 Rediff 2.81 2.55 Patni Comp 19.86 0.33       Manage your newsletter subscriptions
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