Market may open lower

Headlines for the day
Infosys raises outlook for full year on higher Q3 net: The Hindu Business Line
Export push gets Rs500 crore duty sops: The Hindu Business Line
Industrial Growth at 2 year high on durable stimulus: Business Standard
Bharti to buy 70% of Warid: : Business Standard
Industrial growth at 2-yr high on durable stimulus - Business Standard
Events for the day
Major corporate action:
Today’s Results: Bajaj Holding & Investments Ltd, Rural Electrification Corporation, Sintex Industries, Supreme Industries & Tata Metaliks.
Pre-market report
Global signals
European Markets closed lower on Tuesday as a disappointing start of earning season on US. FTSE 100 closed 0.71% lower at 5499.
On Tuesday, US markets closed lower as Alcoa’s disappointing results raise concerns about the economic recovery. Nasdaq closed lower by 1.30% to closed at 2282.
Among the Asian indices, all the Asian indices are trading in negative territory in morning trade. At the time of writing of this report, SGX Nifty is trading 21 points lower.
Indian markets
Following the weak global markets, the domestic indices are expected to open lower and may remain volatile.
Among the local indices, the Nifty could test the 5275-5300 range on the up side, while on the down side it could find support at 5180 and 5200. While the Sensex is likely to get support at 17300 and may face resistance at 17800.
Indian ADR's
Indian ADRs trading on the US bourses showed the mixed trend on Tuesday, among gainers Wipro and Infosys surged by over 5% each. On other hand MTNL & HDFC Bank fell by over 5% each.
Commodity cues
In the commodity space, wherein the Crude oil prices recorded declined, with the Nymex light crude oil for February series sheds by $1.04 to settle at $81.48 a barrel.
In the metals space, Comex Gold for February series declines by $22.10 to settle at $1129.30 to a troy ounce.
In the metals space, Comex Silver for March series rise by $0.34 to settle at $18.36 to a troy ounce.
Daily trend of FII/MF investment in equities
On January 12, 2010, FIIs were the net buyers of the Indian Stocks in the tune of Rs4744.00 crore (with the gross purchase of Rs7538.60 crore and gross sales of Rs2794.60 crore).
While the Domestic mutual funds, on January 11, 2010, were the net sellers of the stocks in the tune of Rs55.10 crore (with gross purchase of Rs840.50 crore and gross sales of Rs785.40 crore).