Check out the market movers for the day

ALSO READ See what other experts are saying about markets See what FIIs are saying about the markets See what Udayan Mukherjee is saying about the markets Tata Motors BSE | NSE 30/05/12 Are Mutual Funds betting on Tata Motors? Other Stocks in this news Mahindra and Mahindra | Jaypee Infratech | Bharat Heavy Electricals | Cipla | Fortis Healthcare | Coal India | Kingfisher Airlines | Essar Shipping | Essar Ports | Hindustan Construction Company | Unity Infraprojects | Reliance Industries | Oil India | Dish TV |

Moneycontrol Bureau

The past week has been a tumultuous one. Greece and Italy have been high on political drama even as economic issues gripped them by the gut, and the debt crisis fever is fast spreading to neighbours such as Hungary and Austria.

European market however closed higher on Friday on signs of stabilization in the eurozone after Mario Monti was named Italy's next prime minister.

US market too finished sharply higher on Friday extending gains for a second session with news from euro zone and on a better-than-expected consumer report. All three major averages are now in the positive territory for 2011 and closed with over a percent gain for the week. The volatility index closed down 8%.

Moving closer, Asia opened with over 1% gain today.

Though the Indian market had closed in the red on Friday, Sensex at 17192 and Nifty at 5168, today could possibly see better times.

Meanwhile, the euro gained ground in early Asia trade today as investors cheered Europe's progress in tackling its debt problems. The dollar index dipped 0.2%, well off last week's high of 78.16.

In the commodity space, oil prices rallied reacting to steps taken by Italy and Greece to address their economic issues and to improved US consumer sentiment. NYMEX crude prices climbed to 15-week highs while Brent pushed higher for the third straight week.

Gold climbed around a percent above the USD 1780 level on signs of some stabilisation in the eurozone region fueling hopes that a euro zone sovereign debt meltdown could be averted.

US president Barack Obama has kicked off the APEC summit with a call to boost trade among members in order to overcome the global economic turbulence.

Back at home, the World Economic Forum kicked off in Mumbai yesterday with focus on sustainable development. This is the first time that the global meet is being held in India. The one thought that seems to emerge from all corporate leaders and policy makers is the need for better cooperation between governments and private players to ensure equitable growth.

Here are certain domestic cues and stocks that could see some action intra-day. Also listen to the accompanying audio file.

For a market that is responding largely to earnings, today is likely to be quite a hectic one. Auto major Tata Motors may see a 20% jump in consolidated sales driven by JLR's performance. Meanwhile M&M sales growth is expected to be the strongest in the industry due to robust 30% volume growth.

From the infra space, JP Associates profits may decline 35% while BHEL may clock 9% profit growth.

Results for Cipla and Fortis from the pharma space are expected today.

Meanwhile, the world's largest coal producer, Coal India has disappointed with its second quarter earnings. The Maharatna PSU's Q2 net profit has dipped to Rs 2593.11 crore. Net sales too have slipped by around 10% on a quarter-on-quarter basis. But the government is still confident of maintaining CIL's monopoly. Watch out for how the stock trades today.

There is no respite for Kingfisher yet. Latest reports say that bankers have asked for an equity infusion of Rs 400 crore and the details of operation. There are also reports that say that the airlines plans to sell property to fly out of the debt crisis.  Watch out for the board meeting that is set to discuss preferential issue and new lease plan today.

Pursuant to the demerger of erstwhile Essar Shipping Ports & Logistics Ltd into Essar Ports Ltd and Essar Shipping Ltd six months earlier, Essar Shipping is all set to start trading on the stock exchanges as a fresh stock from Nov 15.

Unity Infra has bagged two orders worth Rs 306 crore. Check out how the stock movement pans out today.

Media reports say that Reliance and BP now seek to share gas-field infrastructure with the State. Also, Oil India is known to be seeking approval to invest USD 2 billion in Gabon.

A newspaper reports that India's largest DTH operator, Dish TV , is set to raise up to USD 200 million by issuing shares to foreign investors.

Also, watch out for HCC as they revamp financial structure of Lavasa and decide whetrher to go ahead with the planned IPO or not.

Padma Venkatraman
padma.venkatraman@network18online.com