10 things that you should know before the opening bell

In the US markets, stocks notched double digit gains for the year, just a shade below the record two-year highs. However, on Friday, it was a quiet session with a flurry of selling in the final minutes.

There wasn't any big economic cue from Friday but in some of the key data to watch out for today include: the ISM manufacturing survey for December. Consensus sees the number coming in at 57 after clocking well above breakeven at 56.6 in November. Meanwhile, construction spending in November is expected to come in at 0.1% as compared to 0.7% last month.

Despite a 7.3% upswing during the year, European shares ended the last trading day of 2010 lower in thin holiday trade, posting the biggest weekly fall since July as the December rally petered out.

In the currency space, the US dollar ended a volatile year a bit firmer than where it began with investors gearing up for gains in early 2011 on expectations the US economic recovery was gaining momentum.

In commodities, oil prices hit a 26-month high over USD 92 a barrel closing the year up 15% on expectations that the economic recovery will drive demand growth next year and send prices into triple digits. They are trading above USD 91 this morning.

Gold rose on Friday, notching up its strongest annual performance since 2007 and marking a fifth straight month of gains in December, driven by a weaker dollar and global economic uncertainty. Meanwhile, in base metals copper gained to a record high for the third straight session, climbing 0.7%.

And back home, it was strong finish to the market on the last trading day of 2010. The Nifty gains 32 points to close above 6,130 meanwhile the Sensex rallies 120 points. . .here is a recap.

A CNBC-TV18 exclusive: the Patni board will meet today to deliberate on iGate's strategy report.Sources say the Patni shareholders and clients concerned about integration.

The goverment is planning to overhaul its decade-old telecoms policy, framing new rules on mergers and on radiowaves, Telecoms Minister Kapil Sibal said on Saturday, seeking to revamp a high-growth sector hit by several scandals.

Hero Group said on Friday its exposure in the alleged financial fraud unearthed at Citigroup's Gurgaon branch in Haryana was Rs 28.75 crore and that it was taking action to recover its dues. Here is a detailed report.